My Food Bag sale deal expected

Nadia Lim is one of the founders of My Food Bag.

Nadia Lim is one of the founders of My Food Bag.

Food delivery service My Food Bag looks set to lift the lid on a major deal.

There has been speculation a private equity firm may be about to acquire My Food Bag.

A source said NZX-listed Trade Me had also expressed interest in acquiring the firm.

Neither My Food Bag nor Trade Me would comment.  

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My Food Bag was founded by Cecilia Robinson, former Spark boss Theresa Gattung and MasterChef winner Nadia Lim in 2012.

It delivers meal ingredients and recipes and initially targeted well-off home diners. It attempted to broaden its appeal in June with the launch of a "more affordable" service called Bargain Box.

My Food Bag didn't pioneer the concept of catering to home chefs internationally, but it was quick to bring the idea to the New Zealand market and subsequently expanded into Australia. 

The company confirmed in May that it was looking for expressions of interest from potential investors after more than doubling its revenues and racking up 35,000 customers.

It also refused to take the possibility of a sharemarket listing completely off the table

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It forecast then that revenue for the 2017 financial year would top $135 million.

 - Stuff


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