Woolworths Group has announced a strategic partnership with global meal kit subscription provider Marley Spoon. The agreement includes an AUD 30 million investment in the company resulting in Woolworths owning 9 percent of the Marley Spoon.
Brad Banducci, CEO of Woolworths Group said, “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 Group hopes to be able to grow both the Marley Spoon and Dinnerly brands in Australia with the exclusive partnership which will last five years.
Fabian Siegel, CEO of Marley Spoon believes that the partnership offers benefits for both Woolworths and Marley spoon who is trying to break into the Australian market. “We have chosen to partner with Woolworths because it’s clear they understand what scale-up businesses need. Despite their size, they have a genuine partnership mentality, offering us support to grow the business whilst empowering us to run our own race.”