Koley Jessen Advised 365 Retail Markets LLC on its Acquisition of Spoonfed
Koley Jessen acted as U.S. advisor to a leading provider of self-service commerce technology to the foodservice industry – 365 Retail Markets, based in Michigan, on its acquisition of Spoonfed, a Glasgow, Scotland-based company whose software is used by global contract caterers, restaurant chains, and independent caterers across the US, UK, and western Europe.
Spoonfed is a web-based software subscription service, founded in Scotland by Willie Biggart and Murray McNicol. The company has grown rapidly since its launch in 2013 and is now used by many global brands and institutions, including 3 of the top 10 globally ranked universities. It delivers significant efficiencies for a wide range of catering activities. With the help of software entrepreneur Steven Wojciechowski, they have created a dynamic software solution to support their clientele.
Founded in 2008, 365 Retail Markets provides a full suite of self-service technologies for food service operators. Today, the Company’s technology solutions – end-to-end integrated SaaS software, payment processing, and point-of-sale hardware – power food retail spaces at corporate offices, manufacturing and distribution facilities, and more, providing compelling foodservice options for consumers. 365’s technology solutions include a growing suite of frictionless smart-stores, vending, and dining point-of-sale options to meet the expanding needs of its customers.
Spoonfed’s technology has synergies with 365’s existing product offering, and 365 CEO Joe Hessling believes it will add further value to their expanding suite of solutions for their customers. “We are proud of the significant growth we have achieved to date as we drive value for stakeholders across the foodservice industry as well as corporate campuses, and we see tremendous opportunities ahead,” said Hessling. “We have built a fantastic relationship with the Spoonfed team, and they share our vision for the business. They are an excellent cultural fit with our team at 365, and we are thrilled to partner with them as we embark on this next chapter of our Company’s growth targeting international markets, higher education, and business dining sectors.”
The deal involves 365 Retail Markets assuming full ownership of Spoonfed thus providing an exit for the investor base, including main backers Equity Gap and Scottish Enterprise. 365 will provide the capital, international network, and support for Spoonfed to realize its full potential, particularly in the US and European markets as part of the broader 365 product portfolio. Biggart and McNicol will remain involved in driving the business, working alongside Allison Sutera, Chief Growth Officer at 365.
Murray McNicol co-founder of Spoonfed said “Workplace catering is an unsung sector, working tirelessly in the background to serve its customers. At Spoonfed, we simply want to make their day better by providing the best tools to help them produce and deliver great food, without worrying about the admin. In particular, during the Covid-19 period, we’ve worked hard to develop the right solutions to enable caterers to emerge in good shape to face the new workplace landscape. It’s terrific that Joe Hessling and the 365 Retail Markets team have recognized the efforts of our whole team and we are delighted to work with them to help build on the success of their outstanding self-serve product suite.”
Koley Jessen P.C., L.L.O. acted as the U.S. legal advisor on the acquisition. The Koley Jessen team was led by Eric Oxley and Comran Sharif.
Koley Jessen worked with U.K. firm Lewis Silkin on this transaction. The Lewis Silkin team was led by corporate partner, Geraint Tilsley, with support from Stacy Treharne (Corporate), Matthew Rowbotham (Tax), Oz Watson (IP and Contracts), and James Stables (Employment).
About 365 Retail Markets
365 Retail Markets is the global leader of self-service technology and services for the Contract Foodservice industry. 365 has won many awards for their innovation and growth, including being named to the Inc. 5000 list of the fastest-growing private companies in the U.S. several times. Through our combination of MicroMarket, vending, and dining technologies, we offer the best-in-class point-of-service platform for the workplace. 365 offers a consolidated approach to operators seeking a streamlined system that consumers love to use. 365 has been pioneering innovation in the industry since 2009 and continues to revolutionize the market with superior technology, strategic partnerships, and ultimate flexibility in customization and branding. 365 is committed to capturing every single transaction, every single time, by delivering products that are secure, scalable, and reliable. For more information about 365 Retail Markets, visit www.365retailmarkets.com. You can also follow 365 Retail Markets on Facebook, Twitter, YouTube, and LinkedIn.
Spoonfed is a leading provider of catering software to the institutional market, where customers include both self-operated organizations and the leading global contract catering providers, in turn serving global brands in the business, education, defense and leisure sectors, as well as retail and restaurant operators. Combining an intuitive, white-labelled online ordering platform with comprehensive back of house management, caterers benefit from a richly featured solution, configured to their needs. For more information about Spoonfed, visit getspoonfed.com. You can also follow Spoonfed on Facebook, Twitter, and LinkedIn.
365 Retail Markets