Grow Food will begin operations in Voronezh, Kazan and Nizhny Novgorod at the end of 2024. To expand the geographical presence, it is planned to use “minimal initial budgets”, but their volume is not disclosed. This was reported to Vedomosti by the press service of the ready-to-eat food delivery service.
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By the end of 2025, the company also plans to enter “at least 10 more regions” of the country, but it is not specified which areas are being discussed. Now Grow Food operates in Moscow and St. Petersburg.
For residents of Voronezh, Kazan and Nizhny Novgorod, the cost of rations will be 20 to 30% lower than in Moscow and St. Petersburg, where the average bill is about 6,000 rubles per month, a representative of the company said. .
According to him, its own distribution centers and developed logistics will allow the service to “flexibly manage supplies, maintain stable quality and ensure fast delivery to the regions.” By expanding its geographical presence, Grow Food plans to increase its customer base and increase its revenue, the company’s press service added.
In 2020, the service abandoned its expansion in the regions for various reasons, including the high cost of rations for local residents, although in 2019 Grow Food launched delivery in Murmansk, Krasnodar, Yekaterinburg, Kazan and Novosibirsk.
The company began operating in Spain in 2021, but its website is currently down in that country. In 2022, Grow Food carried out its first rebrand since its founding, and in February 2024, the investment company Marathon Group, the largest shareholder in the Magnit chain, bought a stake in the service, sources told Forbes. According to them, the transaction amount amounted to 4-4.5 billion rubles.
Grow Food was founded in 2015 by St. Petersburg entrepreneurs Daniel Galper and Pavel Paskar. According to Rusprofile, in 2023 the revenue of GF Trade LLC (the legal entity of the service) amounted to 3.4 billion rubles against 3.1 billion rubles in 2022, an increase of 9.7%, net profit: 5.4 million rubles (a decrease of 85.4% compared to 37 million rubles in 2022).
In 2016, the company raised 30 million rubles from the AddVenture venture fund and a year later invested another 300 million rubles in Grow Food.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
