London-based food delivery marketplace Just Eat has announced the acquisition of City Pantry, an office catering marketplace as it entered the catering business. Founded in 2013 by Stuart Sunderland, City Pantry debuted to improve the catering options for employees in companies in London. The marketplace connects businesses and local caterers so that the former can get quality food delivered to their office.
Acquired for €18 million
Notably, the catering marketplace is also based in London. It has been acquired by Just Eat for £16 million (nearly €18 million). This is said to be an initial cash offering and it is claimed that there will be further remittances if City Pantry meets financial targets over a period of three years.