Nestlé takes over the majority of Mindful Chef
Company producing nutritionally balanced ready meals in the UK
Nestlé announced the acquisition of a majority stake in the British company Mindful Chef in a move to strengthen its direct-to-consumer offering in the UK and Ireland. Founded in 2015, Mindful Chef offers a range of nutritionally balanced meals, through the ready-to-eat recipe kit, with 16 options to choose from each week. The company's portfolio also includes a range of frozen ready meals. The operation comes a few days after the announcement of the acquisition of the American Freshly, another platform specialized in the delivery of meals at home (see EFA News article of 30/10/2020)
The three founders of the company, who are part of its management team, will remain shareholders and will continue to manage the business with the support of Nestlé.
Some shareholders will continue to partner with the company, while Piper, a private equity firm that invested £ 6 million in Mindful Chef last year, will exit the business.
"Giles, Myles and Rob have built a brand with a clear purpose, offering consumers a reliable proposition that makes healthy eating easy through a direct-to-consumer subscription model," said Stefano Agostini, CEO of Nestlé UK and Ireland. “The two companies share an ambition to increase the availability and affordability of healthy foods by paying close attention to how ingredients are purchased and reducing food waste. It means this is an ideal partnership for both parties as Nestlé continues to evolve its portfolio and Mindful Chef accelerates its growth plans. "
Tim Lee, CEO of the British company, added: “We constantly challenge ourselves to be aware of our actions and the impact we have. Consumer response has been great and we expect to see over £ 50m in turnover this year. The experience and support of the Group gives us the opportunity to build on this success in the UK by facilitating 'healthy eating' for more consumers. "The financial terms of the agreement, which is expected to close by the end of the year, were not disclosed.
EFA News - European Food Agency