Acting Business Editor for the NZ Herald

Has My Food Bag been gobbled up?

My Food Bag co-founders Nadia Lim, Theresa Gattung, and Cecilia Robinson. Photo / supplied.
My Food Bag co-founders Nadia Lim, Theresa Gattung, and Cecilia Robinson. Photo / supplied.

Grocery delivery service My Food Bag won't comment on speculation it has been sold to a private equity firm for tens of millions of dollars.

The company, through a spokeswoman, said it couldn't comment when asked about the matter this afternoon.

Board member and shareholder Theresa Gattung would also not comment to the Herald.

Masterchef winner Nadia Lim, another director and shareholder, did not answer her phone and had not responded to the Herald's query at the time of publication.

My Food Bag delivers a week's worth of recipes and ingredients throughout New Zealand and in Sydney and Melbourne.

The company, in May, was seeking expressions of interest from equity investors as it reviewed its capital structure.

At that time, co-chief executive Cecilia Robinson said the company had received a number of unsolicited approaches and had asked PwC to manage approaches with investors both in New Zealand and overseas.

"We believe the company has further potential to expand its product range as well as extending to other markets," Robinson said in May.

"We're seeking investment to accelerate our strategic growth plans."

My Food Bag, as of last month, had more than 50,000 customers and was on track to hit $135m in annual turnover by March next year.

Robinson, with her business partners, founded My Food Bag in March 2013.

- NZ Herald

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