Organic food delivery service in the larger Rhine-Main region, operating with a fixed weekly schedule and pre-ordering in order to be efficient, profitable and have the smalles possible ecological footprint
Entry
2018
Exit
2021 sold to Bio Development
Reasons to invest
I’ve known the MD Mohamed for some time and have seen him develop Novum professionally and profitably, so my investment partner and I thought we should acquire larger stakes in order to then build a roll-up with other less professional organic food distributors
Learnings
I learnt a lot about how delivery services can operate profitably, which furthered my skepticism if instant delivery services can ever be made profitable. Even though the base premise was sound, we profited largely from the wave of orders during COVID time which strongly boosted sales and profits and then from Bio Development asking to buy our shares.