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”.