WEST PALM BEACH, FL. (FEBRUARY 21, 2024) — AUA Private Equity Partners, LLC (“AUA Private Equity”), is pleased to announce that it has taken a minority stake in Marley Spoon Group SE (“Marley Spoon Group” or “MSG”) following Marley Spoon Group’s acquisition of bistroMD, LLC (“bistroMD”), which was previously owned by AUA Private Equity, LLC (“AUA Private Equity”).
bistroMD is the leading doctor-designed ready-to-eat meal plan in the US, and since its founding in 2005 it has developed a national blueprint in the medically tailored weight loss industry. AUA Private Equity acquired bistroMD in March 2021. Since that investment, AUA Private Equity has worked closely with Founder & CEO Edward Cederquist and Dr. Caroline Cederquist to grow the business.
On January 31, 2024, MSG entered into a binding agreement to acquire bistroMD, with bistroMD shareholders receiving shares and warrants of MSG as well as the opportunity to receive additional shares based on the achievement of certain earn-out provisions. The transaction closed on February 9, 2024.
Fabian Siegel, CEO & Founder of Marley Spoon commented about the transaction: “We are impressed by the strong brand and customer-focused organization that founder Ed Cederquist and his team have built over the past 19 years. We are committed to ensuring that bistroMD continues to flourish and grow as part of the Marley Spoon platform, and we welcome Ed and his team to Marley Spoon.”
David Benyaminy, Partner of AUA Private Equity Partners, added: “bistroMD is a unique player in the U.S. meal plan market, and we’ve enjoyed collaborating with Ed and the management team to grow the business. We are excited about bistroMD’s next phase as a part of the Marley Spoon Platform.”
The transaction was led by Partner David Benyaminy and Senior Associate Jordana Cooper.
About AUA Private Equity Partners, LLC
AUA Private Equity Partners is a West Palm Beach, FL based, operationally focused, lower middle-market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses. AUA Private Equity typically makes equity investments of $40 to $100 million in companies that generate in excess of $10 million in EBITDA. For more information on AUA Private Equity Partners, please visit www.auaequity.com.
About bistroMD
bistroMD is a national, direct to consumer doctor-designed and chef-prepared meal delivery subscription service that provides ready-to-eat, gourmet meals, specifically designed for weight loss and long-term weight management. Founded in 2005 by Edward Cederquist and Dr. Caroline Cederquist, bistroMD operates with the belief of “food as medicine”, providing weight loss meal programs that allow for customization and can accommodate special dietary needs including gluten free, heart healthy, diabetic, and low sodium diets. With over 150 meals to choose from, bistroMD provides a wide selection of options for individuals who are looking to lose weight but do not want to compromise on good quality food. For more information about bistroMD, please visit www.bistromd.com.
CONTACT
Michael Melamed
auaprivateequity@laurelstrategies.com
