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Online supermarket Picnic raises a quarter of a billion in new investment round

2019-11-27T10:49:55.020Z

Online supermarket Picnic has raised 250 million euros in a new financing round. The existing shareholders invest in the company and ABN AMRO provides a new loan.



Online supermarket Picnic has raised 250 million euros in a new financing round. The existing shareholders invest in the company and ABN AMRO provides a new loan.

The company wants to use this money to build a robotised distribution center of 42,000 square meters in Utrecht.

The center will work with more than a hundred fully automated sorting, packing and distribution machines, specially developed by Picnic.

"We use this funding to develop the most sustainable infrastructure for home delivery and to hire the best people from the tech industry," said Frederik Nieuwenhuys, one of the founders of Picnic.

"Together with our electric cars, the robotic distribution center in Utrecht forms the basis of our growth strategy and also provides a thousand jobs."

Family funds invest in Picnic

In the center there will be room for 200,000 crates for storing products. 150,000 households can be served from the center every week.

The money comes from four so-called family funds, investment funds from wealthy families. These funds are NPM Capital from the Fentener van Vlissingen family, Hoyberg from the Hoyer family, De Hoge Dennen from the De Rijcke family from the Kruidvat drugstore chain and Finci, known from the supermarket chain Boni.

Picnic says it is busy with a record year. The company has received 300,000 new customers in the Netherlands and Germany.

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How Picnic changed the online shopping world

Source: nunl

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