Online grocery retailer Picnic, raises 100 million euros from NPM Capital, Fentener van Vlissingen, and other Dutch investors to expand its food retail concept in the Netherlands. The investors get a significant minority share of the company Picnic.
Picnic, with revenues of around 20 million euros in 2016, started in the province of Utrecht. Currently, it has expanded to other towns in the center of the Netherlands, like, for example, Almere. Furthermore, it will expand to other towns as well in the province of South-Holland.
With the financial injection, Picnic will accelerate its geographic coverage in the Netherlands as soon as possible. Its major competitors are, at the moment, Albert.nl, which is the market leader of Ahold Delhaize, and Jumbo Online.
Picnic was originally founded by several entrepreneurs. At first there was serial entrepreneur Michiel Muller, internet entrepreneurs Joris Beckers and Frederik Nieuwenhuys, and food retailer Bas Verheijen.
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