Exclusive: London-based Peckwater Brands swallows competitor to become largest virtual food brand in Europe FOOD DELIVERY Peckwater Brands has acquired its chief competitor eatclever, making it the largest provider of virtual food outlets in Europe. The acquisition has seen Peckwater scooping brands like taste&soul, KoChi and Chicos from its health food-focused competitor, expanding its reach into Germany, Austria and Switzerland in the process. The terms and price of the deal are [...]
Deliveroo shares in the spotlight this week as analysts say firm could be undervalued IS TIME MONEY? Investors will be watching Deliveroo’s share price this week when the firm releases a fourth quarter trading update on Thursday. The London-headquartered firm has been under pressure since floating on the stock market in 2021, with the share price down some 67 per cent from the original offer price. Competitors, the re-opening of society post-lockdown [...]
Just Eat gets standard stock listing PRICE DROP Food delivery app Just Eat switched to a standard listing on the London Stock Exchange. Previously, it held a ‘premium listing’. A premium listing comes with additional caveats and with the standard listing, trade for Just Eat stocks is easier. Along with its listing on LSE, it remains listed Euronext Amsterdam. The company holds 45 [...]
Cooking up a storm: Recipe biz Mob will be ‘smart about revenue’ amid recessionary hit on digital ads December 13, 2022 Recipe social media firm Mob has said it will move away from third-party revenue streams this year as digital advertisers’ budgets shrink. Ben Lebus, founder of the food-focused platform and recipe book business, told CityA.M. the firm needed “to be really smart about where we’re getting revenue from” amid the economic crunch. Mob, which has [...]
Excl: Brits’ spend on restaurants and takeaways behind pre-Covid average November 28, 2022 Brits are now spending far less on meals out and takeaways than they were on the eve of the Covid-19 pandemic, as consumers and businesses grapple with rising costs. Diners are forking out 16 per cent less per month in restaurant spending on average, versus 2019, according to exclusive research shared with CityA.M. Average spend [...]
Deliveroo closes Australian business amid ‘challenging economic conditions’ November 16, 2022 Deliveroo is leaving the Australian market, citing ‘challenging economic conditions’ and fierce competition. The delivery giant said it had been a “difficult decision”, but “achieving a sustainable position of leadership in the market is not possible without a disproportionate level of investment which would have highly uncertain returns”. “Deliveroo, like all other companies, is now [...]
Exclusive: Deliveroo injects £2.5m into subsidising cost of eco-friendly packaging for small restaurants October 28, 2022 Deliveroo is pumping £2.5m into subsidising the cost of eco-friendly packaging for its smaller restaurant partners. Restaurant partners will receive a 50 per cent subsidy on the cost of sustainable packaging, the delivery firm told CityA.M. on Friday. The scheme will cover any item that is home-compostable or made from recyclable paper, cardboard, or recycled [...]
Deliveroo posts growth in Q3 despite tough consumer environment October 21, 2022 Deliveroo continued to benefit from stable growth in the third quarter of the year, as it looked to expanding its offering across the UK and Middle East. The fast-food delivery giant had year-in-year growth in Q3 with gross transaction value (GTV) per order up six per cent, despite orders being down one per cent, driven [...]
‘Not a dark kitchen’: Taster to launch two pasta delivery sites a month with Jamie Oliver October 12, 2022 The founder of food delivery start-up Taster has said the firm wants to differentiate itself from dark kitchens, as it aims to roll out two new sites per month for its new pasta brand with celebrity chef Jamie Oliver. Taster hopes to take the Jamie Oliver collaboration “very far” and turn it into the “biggest [...]
Deliveroo partners with Channel 4 for Gogglebox-style ad series October 4, 2022 Deliveroo has teamed up with Channel 4 to create a Gogglebox-style series on how their food delivery had ‘saved the day’. Working with ad agency The Outfit, the food delivery giant will create 10 contextual ads filmed in an observational documentary style, which will be shown around Channel 4 hits like Made in Chelsea and Grand [...]