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

Latest Videos

More Videos

Thanks for sharing. You might want to check this website https://lagimcardgame.com/. An up and coming strategic card game wherein the cha...

Pierce Fabreverg

Board games distributor partners with Deliveroo in business strategy pivot

Read more

Such an important campaign, dyslexia certainly need more awareness. Amazing to see the work Code Read is doing. On the same note we are a...

Hugo

New campaign aims to build understanding around scope and impact of dyslexia

Read more

Great Job on this article! It demonstrates how much creativity, strategy and effort actually goes to produce such unique logo and brandin...

Pierce Fabreverg

Does your brand need a personality review? - Brand vision - CMO Australia

Read more

Here’s an article on solving the most complex customer queries without a delay. Hope it helpswww.engati.com/blog/address...

soham

How to manage social media during Covid-19

Read more

Thank you for explaining the rules. This article covers the principles of design, which arrange the elements of art into a composition. ...

Pierce Fabreverg

Reports: Brands have an important role to play during the COVID-19 crisis - if they're useful

Read more

Blog Posts

A few behavioural economics lesson to get your brand on top of the travel list

Understanding the core principles of Behavioural Economics will give players in the travel industry a major competitive advantage when restrictions lift and travellers begin to book again. And there are a few insights in here for the rest of the marketing community, too.

Dan Monheit

Co-founder, Hardhat

Predicting the Future: Marketing science or marketing myth?

Unicorns, the Sunken City of Atlantis, Zeus: They are very famous. So famous in fact, that we often think twice about whether they are real or not. Sometimes if we talk about something widely enough, and for long enough, even the strangest fiction can seem like fact. But ultimately it is still fiction - stories we make up and tell ourselves over and over until we believe.

Kathy Benson

Chief client officer, Ipsos

Winning means losing in the game of customer retention

At a time of uncertainty and economic hardship, customer retention takes on much greater importance. CX Lavender’s Linda O’Grady examines the big grey area between ‘all’ and ‘best’ customers when deciding who is worth fighting for and how.

Linda O'Grady

Data Strategy Partner & Business Partner, CX Lavender

Sign in