{"id":38769,"date":"2023-10-20T14:58:51","date_gmt":"2023-10-20T14:58:51","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/take-away-takeover-menulog-rumoured-to-whet-rivals-appetite-for-500-million-acquisition-startupsmart\/"},"modified":"2023-10-20T14:58:51","modified_gmt":"2023-10-20T14:58:51","slug":"take-away-takeover-menulog-rumoured-to-whet-rivals-appetite-for-500-million-acquisition-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/take-away-takeover-menulog-rumoured-to-whet-rivals-appetite-for-500-million-acquisition-startupsmart\/","title":{"rendered":"Take-away takeover: Menulog rumoured to whet rivals appetite for $500 million acquisition – StartupSmart"},"content":{"rendered":"
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Australian takeaway delivery service Menulog<\/a> is reportedly for sale with a price tag of $500 million.<\/p>\n

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Fairfax reports<\/a> the home delivery service, which turns over $40 million per year and allows users to order from a range of takeaway restaurants in their neighbourhood, is on the sale block and is catching the eye of its international competitors.<\/p>\n

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German-based player Delivery Hero is reportedly looking at acquiring Menulog, as is UK-based takeaway delivery service Just Eat. The move to sell could be a defensive move to anticipate the global player\u2019s inevitable entry to the Australian market.<\/p>\n

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The rumours come just months after Menulog merged with local rival EatNow<\/a>, which also offers a restaurant intermediary service, to form Menulog Group in February.<\/p>\n

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The combined group boasted more than 5000 participating restaurant, from which they earn a commission on each order placed through the platform.<\/p>\n

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Fairfax reports Menulog\u2019s owners, which include co-founders Dan Katz and Leon Kamenev, have not ruled out listing the business on the Australian Securities Exchange as an option for the company but are leaning towards a takeover.<\/p>\n

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Morgan Ranieri, founder of grocery-delivery platform YourGrocer told SmartCompany<\/em> the $500 million price tag was understandable, given the food delivery game is big business.<\/p>\n

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\u201cWith any good company [in the space], there is an opportunity to build a billion dollar business, there is so much money in food,\u201d said Ranieri, whose platform delivers fresh food and groceries rather than takeaway meals.<\/p>\n

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But Ranieri says he is not concerned about international players flooding into the Australian delivery market.<\/p>\n

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\u201cI imagine, as with online groceries, the food delivered from restaurants or farms still has a relatively low penetration rate in the industry, so there\u2019s still a big slice of the pie for everyone,\u201d he said.<\/p>\n

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\u201cThe food industry is kind of like the internet, there\u2019s not one big company. It\u2019s a huge marketplace with room for a lot of companies to do really well.\u201d<\/p>\n

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\u201cPeople eat three times a day and most of the retail money in Australia is spent on food. There is a gigantic piece of the pie to get into,\u201d he added.<\/p>\n

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SmartCompany<\/em> contacted Menulog Group but did not receive a response prior to publication.<\/p>\n

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This article originally appeared on SmartCompany<\/a>.<\/i><\/p>\n

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Do you know more on this story or have a tip of your own? Raising capital or launching a startup? <\/i>Let us know<\/i><\/a>. Follow StartupSmart on <\/i>Facebook<\/i><\/a>, <\/i>Twitter<\/i><\/a>, and <\/i>LinkedIn<\/i><\/a>.<\/i><\/p>\n<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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