Marley Spoon brand gets $30m investment injection from Woolworths

Partnership with subscription-based meal delivery service helps Woolworths in a new food category while gives Marley Spoon a massive scale-up

Woolworths has confirmed a strategic partnership with Marley Spoon that will see the supermarket giant invest $30 million into the subscription-based meal kit provider as well as its Dinnerly brand.

Making the announcement to the ASX today, the initial five-year partnership sees Woolworths pick up a 9 per cent stake in Marley Spoon, as well as a direct role in growing the Australian business. The deal incorporates a $23 million senior secured convertible note, along with $7 million in Marley Spoon shares.

Along with more collaborative working across both Marley Spoon and Dinnerly brands, Woolworths said it will build operational synergies, while also learning promoting the online-based offer.

“This partnership gives Woolworths exposure to the high-growth, ready-to-cook meal kits segment and aligns with our ongoing goal of meeting our customers’ needs for healthy and convenient meal solutions,” Woolworths CEO, Brad Banducci, said.

“Marley Spoon has demonstrated it has a customer focused, innovative and entrepreneurial culture and we are excited to partner with them.”

Marley Spoon CEO, Fabian Siegel, said the partnership with Woolworths will provide significant benefits to both sides, while incentivising both parties to grow the Marley Spoon offering in Australia.  For example, Marley Spoon gains access to Woolworths’ customer base as well as sourcing and supply chain teams.

“We have chosen to partner with Woolworths because it’s clear the company understands what scale-up businesses need,” he commented. “Despite its size, Woolworths has a genuine partnership mentality, offering us support to grow the business while empowering us to run our own race.”

Marley Spoon, which was founded in 2015, provides a delivery-based subscription for food recipes and accompanying ingredients. Each recipe is designed by chefs to take 30 minutes, and is available in two- and four-person options, with new recipes created each week.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu   

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Why defining brand strategy is vital to capitalising on quick wins

Big brands were once protected from small brands by high barriers to entry. Big brands had the resources to employ big agencies, to crack big ideas and to invest in big campaigns. They had the luxury of time to debate strategies and work on long-term innovation pipelines. Retailers used to partner with big brands.

Troy McKinnna

Co-founder, Agents of Spring, Calm & Stormy

3 ways to leverage the talents of your team to avoid disruption

​According to the World Economic Forum in its most recent The Future of Jobs report, the most important skills for the future are not technical, task-oriented skills, but higher-order skills such as creativity, social influence, active learning, and analytical thinking.

Gihan Perera

Futurist, leadership consultant

CMOs, it’s time to stop squandering customer attention

Businesses continue to highly value the attention they buy through paid media, yet at the same time, many continue to disregard and under-value opportunities to connect with customers using their owned media.

Well written Vanessa!! Agreed with your view that human experience is marketing's next frontier. Those businesses who are focused on the ...

Clyde Griffith

Forget customer experience, human experience is marketing's next frontier

Read more

Great tips for tops skills need to develop and stay competitive

Nick

The top skills needed to stay competitive in a rapidly changing workforce

Read more

The popularity of loyalty programs is diminishing, though I'd say it is because customers are savvy enough to recognise when a loyalty pr...

Heather

It’s time for marketers to rethink their approach to ‘loyalty’

Read more

Thanks Nadia for sharing this blog. It has really useful and amazing information about Salesforce Commerce Cloud and digital engagement w...

Holly Smith

Adidas taps data and technology smarts to build personalised digital engagement with consumers

Read more

clearly someone who's jealous and only comments from the safety of being behind their keyboard

Peter Sibson

The purpose of purpose - Brand science - CMO Australia

Read more

Latest Podcast

More podcasts

Sign in