Companies join forces, aiming to build a global leader in software and data analytics for the foodservice industry
Meal Ticket, a leading end-to-end business management solution for foodservice distributors, and MarketMan, a leading inventory management and supplier automation platform for the restaurant industry, announced a merger to combine their complementary software and enable more automated, efficient interactions between foodservice distributors and restaurant operators. The merger is supported by an investment from PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies. The investment of over $100 million aims to support the formation of a global leader in software and data analytics for the foodservice industry.
Meal Ticket was founded in 2011 by Wink Jones and Brian Konrath, and MarketMan in 2013 by Noam Wolf, Igal Wolf and Or Mintz, with the intention of providing a suite of operational tools and solutions for businesses across the foodservice supply chain to drive efficiency and profitability. Meal Ticket’s all-in-one platform provides software solutions and delivers customer-first insights, helping distributors better serve their customers and increase sales. MarketMan’s cloud-based inventory management software enables restaurants to manage inventory and orders, monitor purchasing spend and food costs, and analyze back-of-the-house operations to save them time and drive greater profitability.
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As a combined company, Meal Ticket and MarketMan will continue to operate their existing product lines in addition to developing new products together and serving customers globally. The company plans to significantly expand its headcount in its existing Tel Aviv and New York offices, particularly its engineering and product development teams based in Israel.
“Meal Ticket and MarketMan are natural complements to each other’s businesses. Meal Ticket analyzes over $40 billion in supply chain transactions from its food distributor customers, while MarketMan has a significant footprint of over 7,000 paying restaurant locations around the globe buying from thousands of distributors,” said Wink Jones, CEO of Meal Ticket. “Together, we have the ability to enhance the restaurant operator’s experience, create new software for the foodservice supply chain, and offer ordering and payment solutions that benefit restaurants and distributors.”
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“MarketMan has always been focused on solving difficult inventory and supplier automation problems for restaurants,” said Noam Wolf, CEO of MarketMan. “This deal is a unique opportunity to not only continue serving them, but also accelerate the development of the platform. With significant new investment capital from PSG, an experienced growth investor in B2B SaaS and payments, as well as significant resources and expertise from Meal Ticket, we will be able to push forward a variety of exciting product initiatives for years to come.”
“We believe the combination of the Meal Ticket and MarketMan customer bases, as well as the integration of their strong technology platforms, creates an end-to-end provider of high-value, data-driven products to the entire foodservice value chain,” said John Marquis, Managing Director at PSG. “We’re excited to support Meal Ticket and MarketMan in their next stage of growth.”
MarketMan’s investors include Flashpoint Venture Capital and lool ventures. Oppenheimer & Co. served as financial advisor to MarketMan.
