Shares sparkle at Youfoodz on HelloFresh deal

By John Reynolds on Friday 16 July 2021

Shares sparkle at  Youfoodz on HelloFresh deal
Image source: pixabay/delivery driver

Shares in Youfoodz have surged this week but there was less rosy news for Just Eat Takeaway and Aker Biomarine.

Shares in Youfoodz have skyrocketed by 74 per cent to  AUS$0.905 in the week ending July 16, following the news that it was being acquired by  Berlin-based HelloFresh.

HelloFresh is acquiring Youfoodz, one of Australia's leading ready-to-eat meal firms, for $93.3m.

HelloFresh says the deal will bolster its ready-to-eat capabilities, as well as enhance its product offering in Australia, as it looks to become a leading global food solutions group.

Youfoodz, which will continue to operate under its own brand, offers chef-prepared meals along with snacks and drinks through home delivery and retail channels.

HelloFresh says it will make the brand become increasingly available to its consumers through a subscription platform.

“We are impressed by Youfoodz’ strong product and manufacturing capabilities and are looking forward to jointly delight Australians with delicious, healthy and convenient meals,“ said Tom Rutledge, CEO of HelloFresh Australia and New Zealand.

Elsewhere, shares in Just Eat Takeaway fell 11 per cent to $15.78, despite the delivery giant issuing an upbeat business update.

Just Eat Takeaway said registered orders were up 37 per cent in the second quarter, with orders being particularly strong in the UK, where they rose 733 per cent in the first six months of the year compared with 2020, as Brits dialed up the takeaways during lockdown.

Just Eat Takeaway said it has completed its merger with Grubhub, creating one of the world’s biggest food delivery firms.

Meanwhile,  shares in Aker Biomarine were down 19 per cent to NOK60 (Norweigan Krone), despite it posting a second quarter increase in revenues of 3 per cent, compared to Q2 last year. 

The company, which is a key supplier to the aquafeed industry, said harvesting in the ingredients segment was challenging during the second quarter, with total volumes of 13,920 tonnes down from 19,500 tonnes in the previous quarter and 16,387 tonnes in Q2 last year.