Multi-million deal

365 snaps up Scots catering software firm Spoonfed

Co-founders: Murray McNicol and Willie Biggart

Glasgow-based company Spoonfed, whose software is used by global and independent contract caterers, as well as restaurant chains, has been bought by a US technology firm.

The board of Aptus Systems, trading as Spoonfed, have confirmed completion of the seven-figure deal with Michigan-based 365 Retail Markets.

Full details were not disclosed, but the deal provides an exit for Spoonfed’s investor base, including main backers Equity Gap and Scottish Enterprise.

Spoonfed has grown rapidly since its launch in 2013 and is now used by many brands and institutions, including three of the top 10 globally-ranked universities.

It is a web-based software subscription service, delivering efficiencies for a wide range of catering activities. 

The company was founded by Willie Biggart and Murray McNicol and with the help of software entrepreneur Steven Wojciechowski, they created a software solution to resolve major operational issues.

Joe Hessling, founder of 365, believes Spoonfed will add further value to its expanding customer base. 

“We have built a great relationship with the Spoonfed team, and we share an exciting vision for the business.”

365 will provide the capital, international network and support for Spoonfed to realise its full potential particularly in the US and European markets as part of the broader 365 product portfolio.

Mr Biggart, Mr McNicol and Mr Wojciechowski will remain involved in driving the business, working alongside Allison Sutera, chief growth officer at 365.

Mr Biggart said: “It’s been a real challenge to build it from that original idea and we certainly could not have done this without our backers from Equity Gap and Scottish Enterprise and of course our great and hard-working teams based in Glasgow, Scotland and Denver, Colorado.

“We are excited to be joining 365 as part of the next stage of our growth trajectory. The combination of our technology, team and market position, together with their resources and capital, will enable us to offer an even better experience to our customers in the UK and USA. It’s a proud moment for us all.”

Advisers to Spoonfed were David Leslie Corporate Finance and Vialex Legal Services.

Vialex CEO, Keith Anderson commented: “It has been a huge privilege to play a part in the Spoonfed journey.  We were there at its inception and have provided legal and strategic advice throughout.

“We have seen the product go from strength to strength and it has been inspiring to see what Willie, Murray and Steven have achieved through imagination and sheer endeavour. To help with the exit has been an added bonus and we are sure that Spoonfed has a bright future under its new ownership.”

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