Online supermarket Picnic realizes growth financing

Yuno Advisors advised Finci, one of the (family) shareholders of online food retailer Picnic, with the realization of a new financing round to further enable Picnic’s growth ambitions.

Because of the rapid growth of Picnic, the current shareholders consisting of the management and the investment companies of the Hoyer family (Hoyberg), De Rijcke family (De Hoge Dennen) and the family behind Boni supermarkets (Finci) decided to realize a new funding round including the entry of NPM Capital, the investment company of SHV (Fentener van Vlissingen). Yuno Advisors’ advisory concerned the interests of Finci in the new funding round, with a main focus on valuation, structuring and governance issues associated with the new capital injection.

Picnic was founded in 2015 as a new websuper with a 100% focus on the online segment. With a focused and sustainable business model and a proprietary “app-only” order process, and delivery at fixed schedules with electric delivery trucks, Picnic capitalizes on the irreversible trend of online food retailing. Picnic aims to gradually roll-out its business and has the ambition to be active in 70 to 100 cities within 3 to 5 years, and eventually extend its activities to international markets. With the current expansion plans, Picnic expects to create 2,000 new jobs which may grow to approximately 10,000 new jobs within a few years.

Click here to find the original press release of Picnic.