Proactiveinvestors Australia Marley Spoon AG https://www.proactiveinvestors.com.au Proactiveinvestors Australia Marley Spoon AG RSS feed en Mon, 22 Jul 2019 01:12:46 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Marley Spoon enters partnership with Australia’s largest supermarket network Woolworths ]]> https://www.proactiveinvestors.com.au/companies/news/221693/marley-spoon-enters-partnership-with-australias-largest-supermarket-network-woolworths-221693.html Marley Spoon AG (ASX:MMM) has entered into a strategic partnership with Australia’s largest supermarket network Woolworths Group Limited (ASX:WOW) for its home delivered meal kits.

This partnership will see Woolworths investing $30.05 million in Marley Spoon comprising debt and equity to grow the Marley Spoon brand as well as Dinnerly, Marley’s budget offering.

It will also identify and implement operational synergies and has an initial exclusive term of five years.

The deal sparked strong investor interest with shares up about 70% to an intra-day high of 80 cents.

“Delivering important benefits”

Marley Spoon chief executive officer Fabian Siegel said: “The partnership and investment by Woolworths provides validation that home-delivered meal kits is a growing segment and can complement the traditional supermarket online offering.

“As grocery spending shifts to online, home-delivered meal kits will play an increasingly large role in helping customers create healthy weeknight meals and save time.

“We see this partnership delivering important benefits to both Marley Spoon and Woolworths with both parties incentivised to grow Marley Spoon’s business in Australia.

"The opportunity to improve both our top-line growth, and our contribution margin, along with the injection of further capital, will support the company in its transition to profitability.”

Issue of shares

Marley Spoon will issue 8,200 fully paid ordinary shares - 8.2 million CHESS depositary interests - over fully paid ordinary shares (CDIs) to Woolworths against a cash contribution at an issue price of 50 cents per CDI.

Woolworths will subscribe for the initial issue in cash amounting to $4.1 million.

These shares/CDIs under the initial issue are expected to be issued in early June, after which Woolworths will hold approximately 5.52% of the CDIs on issue in the company.

Loan agreement

The parties have also entered into a senior secured commercial loan agreement for $25.95 million with the loan having a term of six months and bearing interest at an annual fixed rate of 7%.

Woolworths CEO Brad Banducci said: “This partnership gives Woolworths exposure to the high-growth read-to-cook meal kits segment and aligns with our ongoing goal of meeting our customers’ needs for health and convenient meal solutions.

“Marley Spoon has demonstrated it has a customer focused, innovative and entrepreneurial culture and we are excited to partner with them,” he added.

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Fri, 07 Jun 2019 13:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221693/marley-spoon-enters-partnership-with-australias-largest-supermarket-network-woolworths-221693.html
<![CDATA[News - Marley Spoon expands with Texas-based manufacturing facility ]]> https://www.proactiveinvestors.com.au/companies/news/210614/marley-spoon-expands-with-texas-based-manufacturing-facility-210614.html Marley Spoon AG (ASX:MMM) has signed a lease for a new manufacturing centre in Dallas, Texas to support strong US growth. 

The company plans to commence operations from the new site in the March quarter of 2019.

The 128,000 square foot site is well situated to support national fulfilment and will allow the company to continue to support its two-brand strategy in the US consisting of Martha & Marley
Spoon and Dinnerly.

These two brands contributed to a 43% growth in US revenue during the September quarter 2018, and a 117% increase compared to the previous corresponding period (pcp).

READ: Marley Spoon serves up growth in maiden ASX financial result

Marley’s CEO Fabian Siegel said: “We are excited to add this facility to our US operations in 2019, which will allow us to capitalise on the strong growth at stable customer acquisition costs we are experiencing in the US market.

“Both our US brands continue to gain traction with customers, and this fulfilment site will allow us to meet this growing demand. This new site is increasing our operational footprint in the Dallas region threefold with the ability to grow even further within the site over the coming years.” 


Founded in 2014 in Germany, Marley Spoon is a subscription-based weekly meal kit service that services customers in three primary regions - Australia, US and Europe.

The company’s June half revenue was up 99% on the previous June half excluding FX effects to €39.5 million.

Marley’s aims to meet its prospectus forecast of €93 million pro forma revenue for the full 2018 calendar year.

Strong September quarter leads to customer growth

Marley recently revealed a strong September quarter confirming it is on track to achieve its prospectus revenue forecast of €93 million.

To capitalise on the strong sales momentum, the company decided to increase its investment in marketing to drive further customer acquisitions.

Marley is now expecting to exceed the number of active customers at the end of the year compared to prospectus forecast.

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Thu, 06 Dec 2018 08:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210614/marley-spoon-expands-with-texas-based-manufacturing-facility-210614.html
<![CDATA[Media files - Marley Spoon offers alternative to traditional supermarket business models ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10374/marley-spoon-offers-alternative-to-traditional-supermarket-business-models-10374.html Thu, 06 Sep 2018 04:31:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10374/marley-spoon-offers-alternative-to-traditional-supermarket-business-models-10374.html <![CDATA[News - Marley Spoon serves up growth in maiden ASX financial result ]]> https://www.proactiveinvestors.com.au/companies/news/204061/marley-spoon-serves-up-growth-in-maiden-asx-financial-result-204061.html Marley Spoon AG (ASX:MMM) recently revealed strong growth across all geographies in its first financial result since listing on the ASX in July 2018.

Founded in 2014 in Germany, Marley Spoon is a subscription-based weekly meal kit service that services customers in three primary regions - Australia, US and Europe.

The company’s June half revenue was up 99% on the previous June half excluding FX effects to €39.5 million.

Marley confirmed it is on track to meet its prospectus forecast of €93 million pro forma revenue for the full 2018 calendar year.

Growth across all segments

All regions showed strong revenue, order and active customers’ growth, with Australia being a performing the strongest.

Revenue generated in Australia surged by 140% to A$23.7 million (€15.1 million) in the June half and notable the segment is approaching profitability.

Furthermore, the total number of active customers globally has more than doubled to 125,000 compared to this period last year.

Committed to generating customer value

Marley’s CEO Fabian Siegel said: “We are now offering the most choice, with 20 dishes in two sizes after our pilot launch of a new manufacturing technology in Germany, which we are planning to roll out globally.

“At the same time, we are also making meal kits more accessible by launching our lower-price product, Dinnerly, in Australia.

“The combination of strong topline growth driven by all regions, increasing margins, stable customer acquisition costs, and moderate general and administrative expenses increases gives us all the ingredients to continue on our journey towards profitability.

“The fact that our Australian operations are now reaching that point after only three years shows the potential of the meal kit business model.”

Upcoming ASX Small and Mid-Cap Conference

Marley will be presenting at the inaugural ASX Small and Mid-Cap Conference being held in Sydney this coming Thursday, September 6.

To attend the conference, please register here.

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Tue, 04 Sep 2018 07:58:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204061/marley-spoon-serves-up-growth-in-maiden-asx-financial-result-204061.html