
NPM Capital et al. in €250m series-C for Picnic
Picnic, a Dutch online supermarket operator, has raised €250m in a series-C funding round from its existing shareholders, NPM Capital, De Hoge Dennen, Hoyberg and Finci.
Dutch bank ABN Amro provided Picnic with a €50m loan.
The company intends to use the fresh capital to develop a robotised 42,000 square metre distribution centre in the Dutch city of Utrecht with a hundred fully automated sorting, packing and distribution machines. The centre will provide jobs for more than 1,000 people, according to the company.
Edeka – the largest supermarket chain in Germany, which owned a 20% stake in Picnic Deutschland – increased its holding to 35% earlier this year.
Previous funding
NPM Capital, De Hoge Dennen, Hoyberg and Finci provided a €100m round of funding for Picnic in March 2017. The backers acquired a combined minority stake in the group.
Company
Founded in 2015 and headquartered in Amsterdam, Picnic is an online supermarket that supplies groceries in more than 100 cities across the Netherlands and Germany. The company claims to have 300,000 new customers this year. In 2018, it generated €200m in revenues, according to Retail Detail.
People
Picnic – Frederik Nieuwenhuys (co-founder).
ABN Amro – Rutger van Nouhuijs (member of the executive committee).
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