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

Launch marketing council Episode 5: Retailer and supplier

In our fifth and final episode, we delve into the relationship between retailer and supplier and how it drives and influences launch marketing strategies and success. To do that, we’re joined by Campbell Davies, group general manager of Associated Retailers Limited, and Kristin Viccars, marketing director A/NZ, Apex Tool Group. Also featured are Five by Five Global managing director, Matt Lawton, and CMO’s Nadia Cameron.

More Videos

Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...

Marcus

10 lessons Telstra has learnt through its T22 transformation

Read more

Check out tiny twig for comfy and soft organic baby clothes.

Morgan mendoza

Binge and The Iconic launch Inactivewear clothing line

Read more

NetSuite started out as a cloud-based provider of Enterprise Resource Planning software or as NetSuite solution provider, which companies...

talalyousaf

NetSuite to acquire Bronto's digital marketing platform for US$200m

Read more

Thanks for sharing this post, its really good information I get through this blog.CDPO Online Exam Training

Infosectrain01

3 ways Booking.com is improving its B2B marketing game

Read more

Time is of the essence, especially for customer service teams. With chatbots, you can interact and assist customers at a larger scale, al...

Jai

Triple-digit customer database growth, personalised engagement become reality for Stone & Wood

Read more

Blog Posts

Getting privacy right in a first-party data world

With continued advances in marketing technology, data privacy continues to play catchup in terms of regulation, safety and use. The laws that do exist are open to interpretation and potential misuse and that has led to consumer mistrust and increasing calls for a stronger regulatory framework to protect personal information.

Furqan Wasif

Head of biddable media, Tug

​Beyond greenwashing: Why brands need to get their house in order first

Environmental, Social and (Corporate) Governance is a hot topic for brands right now. But before you start thinking about doing good, Craig Flanders says you best sort out the basics.

Craig Flanders

CEO, Spinach

​The value of collaboration: how to keep it together

Through the ages, from the fields to the factories to the office towers and now to our kitchen tables, collaboration has played a pivotal role in how we live and work. Together. We find partners, live as families, socialise in groups and work as teams. Ultimately, we rely on these collaborative structures to survive and thrive.

Rich Curtis

CEO, FutureBrand A/NZ

Sign in