Ex-Sainsbury’s boss joins local delivery app The Snappy Group

Justin King, who was chief executive of Sainsbury's between 2004 and 2014, has joined The Snappy Group as a senior advisor and made a significant personal investment.

The Snappy Group is a Dundee-based company behind the Snappy Shopper app which delivers goods from local convenience stores, such as Spar, Nisa, and Costcutter, in around 30 minutes.

The app, released in 2017, covers a wide variety of rural areas in the UK, including the West Midlands.

The group reported 1,150 business partners and over 700,000 UK consumers in 2020 and claimed its annualised gross merchandise volume (GMV) approached £100 million for the year ending March 2021.

The group is currently looking to raise £12 million of Series A fundraising at a valuation of between £50 million and £65 million and said that its sales have been boosted by the pandemic.

King, who was previously also head of food at Marks & Spencer, will gain a stake of between 1 per cent and 5 per cent in the company dependent on share option performance.

Grocery delivery has been a pandemic success story. US-based grocery delivery company Instacart achieved a valuation of $39 billion in March after its latest funding round, making it one of the most valuable start-ups worldwide.

"I have been hugely impressed by the Snappy Group's affordable solution, leadership team, and rapid growth,” said King. “The company is championing the needs of businesses in their local community.”

“Its proprietary technology provides local businesses with an affordable delivery solution which enables them to compete in this fast-changing market segment. This not only caters to the trend for top up shopping but also an increasing desire by consumers to access and support local enterprises.”
“This is an exciting and pivotal time for the business, and I believe that I will be able to add significant value.”

He added: “I look forward to working with the management team as the business continues its expansion and grows its market share further within the thriving UK convenience market and beyond."

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