Clipperton advised Potager City, the online leader in extra-fresh fruit & vegetable delivery, on its sale to Carrefour (ENXTPA:CA)
Clipperton acted as Sole Financial Advisor to Potager City’s Shareholders.
- Potager City, which specializes in the delivery of extra fresh fruit and vegetables, is joining Carrefour (ENXTPA:CA) to pursue its expansion with the benefit of Carrefour’s huge distribution network.
- The acquisition is part of Carrefour’s “Act For Food” strategy and clearly shows its commitment to becoming a global leader in the food transition.
- With this transaction, Clipperton further confirms its expertise in the foodtech space (Foodles, Quitoque, Foodchéri, etc.) and ability to run M&A deals involving large international corporate acquirers (Gastrofix / Lightspeed, Sculpteo / BASF, Matooma / Wireless Logic, etc.).
- Founded by Yoann Alarçon in 2007, Potager City sells a weekly subscription service for high quality fruit and vegetables delivered at work or nearby partner shops.
- Potager City delivers only extra fresh seasonal products, sourced directly from local farmers. The company relies on a unique network of more than 750 local fruit and vegetables producers carefully selected based on the quality of their products, their expertise and their commitment to a more sustainable food consumption.
- Potager City’s subscription model and responsible sourcing strategy allow the company to operate on a “no-inventory / no-waste” basis while considerably limiting its carbon footprint.
- Potager City ships to 350 towns across France through seven logistics hubs and a network of 3,300 pick-up points. With such set-up, the company is able to best serve its customers while being as close as possible to its suppliers.
- Potager City is headquartered in Lyon (FR) and currently employs 110 people.
Deal Highlights & Rationale:
- By joining Carrefour, one of the world’s leading food retailer, Potager City will boost its development, benefit from an extended distribution network and help even more customers eat better and healthier.
- “With this acquisition, Carrefour is strengthening its food e-commerce offering. Customers will be able to subscribe to a practical, commitment-free box delivery service, providing them with extra-fresh, seasonal and local products that are both tasty and responsible, fully in line with our company purpose – the food transition for all!” said Amélie Oudéa-Castéra, Executive Director of E-Commerce, Data and Digital Transformation at Carrefour.
- According to Yoann Alarçon, Potager City’s founder: “A new chapter is starting for our team, our producers and our partners. We are delighted to join the Carrefour Group so we can put even more effort into deploying concrete, local and affordable solutions enabling consumers to eat healthier, tastier and more responsible food”.
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Clipperton is a European independent corporate finance advisory firm exclusively dedicated to the Technology space, advising high growth companies on M&A transactions, debt financings and equity offerings. With offices in London, Berlin, and Paris and an international reach, Clipperton is a European leader in Technology financial advisory. Over the past 17 years, the team has successfully completed more than 300 high profile transactions globally.