A corporate team led by Partner Chris Barrett, and assisted by Divya Sharma and Chris Charlton, has advised leading European online meal ordering site Just-Eat on a joint venture with Bangalore-based Achindra Online Marketing Private Limited, which operates the online food delivery and restaurant listings website Hungryzone.com in India. Just-Eat will invest $5-10 million in Hungryzone.com over the next three years.
The joint venture will further expand Just-Eat's international offering, which now includes Denmark, Netherlands, Sweden, Belgium, Canada, Norway, Spain, Ireland and the United Kingdom. Bird & Bird have advised Just-Eat since its initial round of venture capital funding by Index Ventures in 2009 and has subsequently assisted it with its programme of international expansion.
Hungryzone will benefit from Just-Eat's expertise in developing new markets and access to its technology platform to help to scale up activities in its substantial and diverse market. Hungryzone will expand its operations from Bangalore into Mumbai and Delhi in the first quarter of this year and then expects rapidly to expand into three further cities. Just-Eat expects to grow Hungryzone's booking capability from 650 restaurants at present to 10,000 within the next five years.
Chris Barrett, partner in Bird & Bird’s Corporate Group, commented: “The global market for home delivery restaurant food is enormous and Just-Eat are the only on-line ordering business to have successfully expanded internationally, all the other players are very domestically focussed. Just-Eat has a robust and highly scaleable business model and we look forward to continuing to work with them as they expand internationally”.
The Bangalore office of J Sagar & Associates advised on the Indian law aspects of the transaction.