ANNOUNCES CLOSING OF STRATEGIC TRANSACTIONS TO DRIVE FUTURE MARKET CONSOLIDATION

Marley Spoon Group SE (“Marley Spoon” or the “Company”), a leading global direct-to-consumer meal provider, closed the strategic transactions announced on January 30, 2024.  

With those transactions, Marley Spoon Group acquires BistroMD, a US leading doctor-designed meal service, as a first step of the previously announced growth and consolidation strategy, adding €35m in revenue (based on unaudited management reports). Furthermore, the Company entered into a strategic partnership with FreshRealm whereas FreshRealm will be the Company’s partner for all US manufacturing and fulfillment operations, allowing Marley Spoon Group to operate asset-light and focusing on its market-facing direct-to-consumer business.

Marley Spoon receives €22 million through its transaction with FreshRealm for the sale of certain assets. Furthermore, Marley Spoon will reduce its outstanding loan balance with Runway Growth Finance Corp. (“Runway”) by €10.3, and the Company has amended its existing debt facilities with Runway, namely an extension of the interest-only period and the loan maturity date, each by 12 months, to January 2026 and June 2027, respectively. 

About Marley Spoon

Marley Spoon Group SE, through its subsidiary Marley Spoon SE, is a global direct-to-consumer (DTC) meal-kit company. Our Vision is to “Build a better everyday, just for you, just right”. We started Marley Spoon in 2014 to help our customers to cook for their families and deal with their busy lives. We also felt there should be a more sustainable way to cook at home, reducing food waste that traditional supermarket supply chains generate. Marley Spoon currently operates various brands in three regions: Australia, the United States, and Europe (Austria, Belgium, Germany, and the Netherlands). Our meal-kit brands, Marley Spoon, Martha Stewart & Marley Spoon, and Dinnerly, bring pre-portioned fresh ingredients with tasty and simple recipes and other eating solutions reliably to our customers every week. Our customers just decide what to eat, when to eat, and leave behind the hassle of grocery shopping. Chefgood is our direct-to-consumer ready-to-heat (RTH) service that offers premium-priced, high-quality, healthy, and nutritious RTH meals and eating solutions for our wellness and health-focused customers.

Disclaimer

This announcement constitutes neither an offer to sell nor a solicitation to buy securities. Certain statements contained in this release may constitute “forward-looking statements” that involve a number of risks and uncertainties. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by Marley Spoon Group SE or any of their respective affiliates that any forward-looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward-looking statements. Neither Marley Spoon Group SE nor any of their respective affiliates assume any obligation to update, and do not expect to publicly update, or publicly revise, any forward-looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law.