Armenian food delivery service Menu Group acquires Eda.ua and invests ₴100M towards development
International company Menu Group announced the acquisition of Ukrainian aggregator Eda.ua that previously was owned by Foodout Group. The amount of the deal was not disclosed.
What will happen to Eda.ua
Eda.ua team will join the new food delivery service Menu Group, which will be launched on the Ukrainian market as menu.ua this fall.
Currently Eda.ua employs 40 people.
What is Menu Group
Menu Group was founded in Armenia in 2012 as a food delivery service menu.am. The company’s headquarters are in Yerevan. Today the company provides services across Armenia, Georgia, and Belarus. It employs more than 1,000 people.
By the end of the year, the company plans to reach GMV of $35 million and hit $10 million in revenues.
Development of Menu Group in Ukraine
The acquisition of Eda.ua will allow Menu Group to promptly tap into the Ukrainian market with an existing team and expertise. According to the founder of the company Vahan Kerobyan, within the next 2 years, Menu Group intends to invest at least UAH 100 million in the development of the Ukrainian project.
In Ukraine, menu.ua will work according to a hybrid model: it will do deliveries of prepared meals across 10 cities of Ukraine, as well as work as an aggregator in 29 cities.
Potential of the Ukrainian market of prepared meals
According to Kerobyan’s estimates, today the volume of the market of delivery of prepared meals in Ukraine makes about UAH 10-15 billion and grows by 20-25% annually. This growth is associated with the rapid growth in the number of mobile Internet users. More than 60% of the population (25 million people) use the Internet, 15-20% of them order food online (4-5 million people).
“Now online sales generate about 20% of the total profits of restaurants, but this figure is growing, as the frequency of online orders is already 2-3 times higher than the restaurant foot traffic,” says the founder of Menu Group.
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