Marley Spoon AG (ASX:MMM) announced that it has entered into an agreement to acquire Chefgood Pty Ltd, a Melbourne-based ready-to-heat meal provider. The acquisition will have a total purchase of up to $21m, with additional earn-outs of up to $5.6m over the next 2.5 years based on achievement of revenue targets. The acquisition will give Marley Spoon a foothold in a growing and complimentary category and will allow the company to leverage its operational, digital and customer assets, providing synergies for both companies.
Following the announcement, shares of Marley Spoon AG rose 20.86% to $0.84/share.