Corporate food delivery company EAT Club has purchased the personal meal business of US-based foodservice company Farm Hill.
Financial details of the transaction were not disclosed. However, EAT Club has so far raised $50m in financing from investors and Farm Hill recently raised $4m in capital.
According to EAT Club, the transaction will contribute to its overall growth by expanding the presence of its virtual cafeteria service to a new customer base and increase the portfolio of meal options to employees.
EAT Club founder and COO Rodrigo Santibanez said: “Farm Hill’s extensive customer base, combined with its impressive offering made it the perfect choice as an acquisition target for EAT Club.
“Together, we will expand the EAT Club service to a larger customer footprint and solidify our leading position in the market.”
In addition, EAT Club has appointed Doug Leeds as its new CEO, who joins the company from August Capital.
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Leeds said: “EAT Club takes a completely unique approach from the rest of the market in feeding today’s workplace by providing personal choice to hungry employees.
“I understand firsthand just how valuable high-quality individual meals are to employee productivity, retention, collaboration, and overall company culture, having been a satisfied EAT Club customer while running IAC Publishing.”
Based in the US, EAT Club offers a range of meal options to employees in the corporate world.
The company has delivered more than ten million meals to employees in San Francisco, Silicon Valley, and Los Angeles to date. It is backed by investors such as August Capital, Trinity Ventures, First Round Capital and Sodexo.