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Instacart buys FoodStorm
Catering software business FoodStorm has been advised on its sale to North America-based online grocery platform Instacart.
Reporter
Firm: Herbert Smith Freehills (FoodStorm).
Value: Undisclosed.
Area: Venture capital.
Key players: The HSF team was led by Australian co-head of VC Elizabeth Henderson and solicitor Katherine Duong, who were supported by partner and head of VC Peter Dunne, as well as a team of lawyers across the Sydney and Melbourne offices and associated tax practice Greenwoods & Herbert Smith Freehills, led by partner Toby Eggleston.
Deal significance: Speaking about the deal, Ms Henderson said the firm was “delighted” to have worked with FoodStorm’s founders and its CEO on their sale.
“This transaction is the realisation and recognition of their achievements building a great Australian business, and a testament to the power of FoodStorm’s online prepared foods and catering platform, which has clearly been recognised as one of the best on a global stage,” she said.
“Working with such a great group of people at FoodStorm reminds us why we love working with founders. Congratulations to the FoodStorm team on this accomplishment.”
FoodStorm CEO Robert Hill added: “We couldn’t have asked for better partners than the Herbert Smith Freehills team to support us through this process.”
“Elizabeth, Katherine, Catie, Peter, Toby and the extended HSF team were diligent, thoughtful, and with us every step of the way in delivering this fantastic result. We’re now looking forward to everything we’ll achieve as part of the Instacart family.”
