Sorainen advised the Foodout Group, a leading mobile and internet food delivery and takeaway startup in the Baltics, on its merger with Eda.ua, the largest Ukrainian food delivery startup. The combined company is due to start operating in Belarus shortly.
The Foodout Group operates in six countries (Ukraine, Belarus, Lithuania, Latvia, Estonia and Iran) with a total population of 140 million people. The food delivery regional leader has already made more than 1.7 million deliveries in six countries and over 30 cities.
Comments Tomas Martūnas, Chairman of the Foodout Group board, “We believe that the Food delivery and takeaway business is moving to a consolidation phase. We think that M&A in markets with a clear No.1 player is the smartest way of development in terms of securing investors’ ROI. At the same time, we are not closing doors and planning expansion to other countries where we see a path to becoming the No.1 player in two to three years”.
Sorainen advised the Foodout Group on all Lithuanian and Latvian legal issues throughout the transaction. The pan-Baltic Sorainen team was led by counsel Mantas Petkevičius and included senior associates Renâte Purvinska, Zane Paeglîte, associates Laura Matuizaitė and Toms Vilnis.