Friday, October 21, 2016

My Food Success

My Food Bag team Cecilia Robinson, James Robinson, Kevin Roberts, Nadia Lim, Theresa Gattung and Carlos Bagrie.
Happy and healthy Kiwi families have been at the core of My Food Bag’s purpose since its founding in 2013. The home food delivery service that was dreamed up by Cecilia and James Robinson, Nadia Lim and Theresa Gattung has become a household name in New Zealand, serving 50,000 active customers and delivering a more than million meals a month. It’s been estimated that My Food Bag is now New Zealand’s third largest food retailer. About 18 months ago I was invited to become Chair of the company, mentoring this largely women-owned and led company to its next phase of growth and beyond.

Today My Food Bag announced that it has secured investment from New Zealand private equity firm Waterman Capital to support the company’s further growth and ambition to IPO within the next three years. We were actually flooded by customers wanting to invest directly in the company, and the IPO will give them an opportunity to become shareholders.

This is a tremendous New Zealand success story based on the premise of “simple, healthy, delicious.” My Food Bag was established to resolve the dilemma, “what are we having for dinner tonight?” In an environment where people are increasingly time-poor and health conscious, My Food Bag sees further opportunities to grow while making a positive change in the lives of New Zealanders. In June we launched Bargain Box which focuses on affordability and caters for larger families of up to six people.

Waterman’s investment sees full ownership of My Food Bag remain 100% in Kiwi hands. For the team, it’s business as usual – Nadia continues as the brand’s ambassador and food expert. Cecilia and James Robinson continue in their roles as co-CEO’s to lead the company through this next phase of growth. Theresa remains on the board and I continue as Chair. We’re joined by Waterman’s Chris Marshall, Lance Jenkins and Phil Maud.

Business should be purposeful, and it should also be fun. For me, My Food Bag has been both. Cheers to everyone in our 120-person team, our new investors, and our customers in every part of New Zealand.