Sodexo Ventures Announces A Strategic Investment In Meican

PARIS and BEIJING, Aug. 20, 2019 /PRNewswire/ -- Sodexo, world leader in Quality of Life services, announces its strategic venture capital vehicle, Sodexo Ventures, has invested in Meican, a Chinese technology company focused on digital food solutions in the corporate environment. The investment will further strengthen the leading food services of Sodexo, and demonstrate the shared objective of elevating the food service industry in China.

Launched in 2016, Sodexo, via Sodexo Ventures, seeks news sources of future growth by investing and partnering with innovative startups, and creating new offers for clients and consumers. This is the 2nd and largest investment in the last year for Sodexo Ventures in China, underlining the value Sodexo sees extending from one of the world's innovation hubs.

As China's leading corporate catering platform, Meican has maintained unique positioning and core competency in the digital food service market through its proprietary online platform, mobile application, standardized process management and a vast nationwide network that includes client's on-site kitchens, partner merchants and technology-enabled food courts. Meican provides a wide range of food service options for multiple company scenarios. 

This investment and partnership will enable Sodexo to build a new comprehensive food model to complement our current food business through an integrated digital platform to bring innovative solutions to our clients with a Single Point of Contact. It will enrich the consumer experience by digitalizing our on-site restaurants while expanding dining options with Meican's network.  

Meican plans to expand operations in China, leveraging Sodexo's geographic reach and management skills to rapidly scale up, through proposing joint-offers and launching innovative solutions.

Martin Boden, Sodexo China Country President, said: "The partnership with Meican will continue to develop and enhance our food services across China. With broadened touch points from online to offline, we will be able to better serve our clients and consumers and enrich the consumer experience in this rapidly evolving market. We are delighted to continue our progress through this investment, and retain our commitment to bringing quality of life services in China."

Xiao Zhao, Co-founder and CEO of Meican, said: "The strategic cooperation with Sodexo will bring resources, brands and innovations to Meican. We will continue to invest in technological innovation and team building to expand our customer base and accelerate business growth in China. We are committed to improving consumer experience through digital innovation and diversity of suppliers, which would trigger industry transformation. We are thrilled about the opportunity to deliver our unique business model and technological innovation to the international market with the endorsement of Sodexo brand that builds trust and loyalty."

Belen Moscoso del Prado, Chief Digital and Innovation Officer and Member of Sodexo Ventures Investment Committee, said: "The investment and partnership between Sodexo Ventures and Meican proves how important the Chinese market is for Sodexo. We are very proud to partner with Meican's team that impressed us by their level of innovation, consumer-centric approach and speed of deployment. This operation demonstrates our commitment to working with start-ups in local markets with potential to transform the industry."

About Sodexo

Founded in Marseille in 1966 by Pierre Bellon, Sodexo is the global leader in services that improve Quality of Life, an essential factor in individual and organizational performance. Operating in 72 countries, Sodexo serves 100 million consumers each day through its unique combination of On-site Services, Benefits and Rewards Services and Personal and Home Services. Sodexo provides clients an integrated offering developed over more than 50 years of experience: from foodservices, reception, maintenance and cleaning, to facilities and equipment management; from services and programs fostering employees' engagement to solutions that simplify and optimize their mobility and expenses management, to in-home assistance, child care centers and concierge services. Sodexo's success and performance are founded on its independence, its sustainable business model and its ability to continuously develop and engage its 460,000 employees throughout the world.

Sodexo is included in the CAC 40, FTSE 4 Good and DJSI indices.

Key figures of Sodexo Group (as of August 31, 2018)

20.4 billion euro in consolidated revenues460,000 employees19th largest private employer worldwide72 countries100 million consumers served daily15.4 billion euro in market capitalization (as of July 5, 2019)

About Meican

Founded in 2011, Meican is China's leading corporate catering service platform, delighting clients with comprehensive dining solutions for staff meals, corporate event, offsite consumption, smart cafeteria and business dinner to drive consumer experience and customer management efficiency. The products and services provided by Meican are available in major cities across China, used by thousands of corporate clients and tens of thousands of partner merchants every day. Meican believes that every organization can optimize the employee dining experience, drive customer satisfaction and happiness, thus adding greater value.