HUNGRY, the food platform supported by Jay-Z, buys NatureBox
HUNGRY, a restaurant and food delivery technology platform backed by Jay-Z’s Marcy Partners and others, has acquired NatureBox, according to a report from Yahoo.
According to CEO Jeff Grass, the company’s momentum was the reason for the purchase.
He said he believes more people will return to the office as businesses and cities lift pandemic-era protocols, which will add to HUNGRY’s services.
HUNGRY provides various types of dried meats, nuts and other similar snacks, and has partnerships with independent brands.
By acquiring NatureBox, there will be more snack options thanks to the new platforms HUNGRY is working on.
“NatureBox had previously raised approximately $60 million in venture capital funding,” Grass told Forbes. “We expect NatureBox to add at least 20% to HUNGRY’s overall revenue in 2022, and we expect our business to double in sales in 2023.”
HUNGRY also recently purchased other companies, LocalStove and Ripe Catering, which will strive to serve customers in the Northeastern United States. Grass said the company expects to continue growing for the “foreseeable future.”
In related news, PYMNTS wrote that Toast, the restaurant software provider, has rolled out Toast for Hotel Restaurants, which integrates with hotel systems to help restaurants run better.
Read more: Toast unveils a tool for hotel restaurants
Toast’s business model took into account that many hotels and resorts use disconnected technology to handle core front office tasks such as check-in and check-out, billing and on-site ordering.
The release says this leads to “a less than optimal experience for hotel staff, who often have to rely on time-consuming manual processes to reconcile food and beverage charges with the guest’s folio,” says the press release.
Aman Narang, chairman and co-founder, said hotels have added more curated dining and beverage experiences, but lack the option to let guests order and pay on their own terms.
The purpose of the tool would be to offer more efficiency, by charging customers in their rooms.