This is crazy. In a good way. Dutch “online milkman” Picnic, currently (only) active with grocery delivery in Utrecht, Amersfoort, and Almere, raised a staggering €100 million from a broad collection of Dutch family offices. NPM Capital, the private equity firm of the family-owned company SHV, takes the lead, with De Hoge Dennen, Hoyberg and Finci also participating. Although the valuation of the – in 2015 launched – scale-up hasn’t been disclosed, we were told the investors took a minority stake.
Grocery on demand
A year and a half ago, Picnic started out with grocery delivery on demand via electric vehicles and boasted explosive growth ever since. The investment in Picnic will enable the online supermarket to realize “its ambitious growth plans”.
Modern milkman
“We are the modern version of the milkman, that has a complete assortment, available for everyone and always ready to serve,” co-founder Joris Beckers states. “In every new city where we launch our operations, we have repeatedly been astonished by the enormous interest shown by customers in the services we offer. These new investments will go a long way to help us serve a great many more people and become the most sustainable supermarket on the planet.”
Fentener van Vlissingen
NPM Capital, the private equity firm of the family-owned company SHV (Fentener van Vlissingen), takes the lead in the €100M round. In a way, that’s funny, as SHV (Steenkolenhandelsvereniging) accumulated its wealth by trading coal; Picnic upholds a bit of an eco-friendly image and utilizes solely electric vehicles for its deliveries.