Mymenu, the largest Italian food delivery company specialized in high-end restaurants and food providers, announced the acquisition of a majority stake by Pellegrini Spa on the 4 February.
By acquiring Mymenu, we aim to reach new markets and new target customers in a continuous landscape evolution such as smart working. We want to expand the offer for our customers, their employees and their families, taking care of their welfare even off work.commented Valentina Pellegrini, Vice President at Pellegrini.
Mymenu was founded in 2013 and is an Italian company active in the foodtech sector, leveraging technology to bring value to their customers with two main services – high-end B2c food delivery (with an order value 3x the industry average) and B2b welfare solutions. A business team of 20 people and around 600 drivers supporting in the logistics operations. The company is based in Milan.
The company, led by its founders and the entire team, will be managed as an independent business unit within Pellegrini Group. The deal represents an important milestone for Mymenu and the whole Italian ecosystem, revealing how the pandemic has accelerated the need for digital transformation for big corporations.
We are enthusiast to be now part of one of the largest groups on the food market in Italy: this exit is an important milestone for the Italian ecosystem as it represents how tech companies and big corporations, also thanks to an important boost given by the recent pandemic, are doing their best to create value and innovate together.commented Giovanni Cavallo, President and co-founder at Mymenu.
The deal, thanks to an incredible match of complementary assets, will strengthen both sides. By joining the Pellegrini Group, Mymenu will have access to hundreds of corporate customers who need new services.
On the other side, Pellegrini will have access to Mymenu’s tech assets and advanced digital skills that will lead to the innovation of many internal processes and broaden the innovative approach to the canteen and corporate restaurants markets.
Mymenu during 2020 was able almost to double its total sales and reach the breakeven point. Pellegrini has acquired a majority stake in the company, leaving the three founders – Edoardo Tribuzio, Giovanni Cavallo and Lorenzo Lelli – Lelli fully in control of the business operations as well as inside the cap table.
When innovation meets a tradition of success like Pellegrini, the future can only be prosperous and glorious. We’ve reached this point thanks to an excellent team, which I am very proud of. When I delivered the first order, I could never have imagined a better way to end our first chapter. Together with Pellegrini we can pursue new market opportunities and satisfy new service trends.commented Edoardo Tribuzio, CEO and co-founder at Mymenu.