LONDON: The London based online food order and delivery company Just Eat has acquired London based startup City Pantry for f £16 million.
City Pantry is an office catering marketplace, which connects offices with caterers and restaurants to order in food for staff, company events and meetings.
The initial cash offering of £16 million, with a possible further payment will be made if City Pantry hits certain agreed upon milestones over the next three years.
City Pantry serves over 120,000 people for more than 1,000 corporate customers each month.
The acquisition will allow Just Eat to enter UK corporate market estimated to be worth around £10 billion a year.
Founded by Stuart Sunderland in 2013, City Pantry set out to improve the catering options available to corporate clients.
It is believed that City Pantry last raised £4 million in funding in early 2018.