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Morning Briefing for pub, restaurant and food wervice operators

Wed 11th Aug 2021 - Edition Capital and Asda invest in Lean Kitchen Network
Edition Capital and Asda invest in Lean Kitchen Network: Edition Capital and Asda have announced an investment in Lean Kitchen Network (LKN) – a digital brand creation and food delivery business. A spokesman said: “LKN, whose portfolio includes virtual burger chain ‘Twisted London’, will target further growth in the hospitality sector by partnering with large hotel operators, restaurants and pub chains to transform under-utilised kitchen space into ‘on-trend’ eateries to improve on-site dining options and drive new and incremental sales through on demand food delivery. The company works with some of the nation’s favourite brands such as, Pepsico, Heinz and Doritos and uses its own brands including Twisted London (a partnership with social media publisher, Jungle Creations) and ‘House of Yum’ to create interactive menus that change throughout the day to suit the needs of customers. In addition to its investment, Asda will also partner exclusively with Lean Kitchen Network to roll out the next generation of tech-driven food-for-now counters across the UK, initially launching in five London stores: Park Royal, Enfield, Bexley, Colindale and Wembley. This follows the successful launch of the ‘House of Yum’ café concept at the Asda store in Clapham last December, where customers can use a QR code to order food directly from their table or alternatively for rapid delivery via Deliveroo and Uber Eats. LKN are developing and rolling out exciting technology that will improve customer experience including digital ordering, smarter waste management and a state-of-the-art machine learning performance management system.” Faraz Nagree, chief executive and founder of Lean Kitchen Network, said: “Our partnership with Edition and Asda represents a big step forward in our ability to provide high quality, affordable and exciting meals to our customers across the UK. Asda’s unparalleled access to a cost-effective supply chain and 100s of potential new locations combined with our digital and food development capabilities will be truly disruptive as we scale.” Lisa Boden Shah, partner at Edition Capital, said: “Lean Kitchen Network’s proposition is incredibly exciting. We have been looking to invest in innovative, scalable food brands with a clear growth strategy, and Asda’s investment solidifies this. We are delighted to be investing alongside them.” Preyash Thakrar, Asda’s chief strategy officer, said: “Asda’s partnerships strategy is anchored around collaborating with innovative businesses like Lean Kitchen Network to bring new products and services to customers. Investing in the business is the natural next step in our relationship and we look forward to working with them as they drive positive change in the food for now market, leading to greater choice and improved quality for consumers.” This investment precedes a larger Series A investment round that is being raised to execute the rollout plan. LKN’s brand portfolio consists of The Doritos Diner (an entire Nacho-themed menu inspired by Doritos), Twisted London (a spinoff of Europe’s largest social media food community, boasting 35m followers), Twisted Bar Delivered (classic cocktails with a twist), WTF! (100% plant-based burger brand), Poke Mi (fresh nutritious Hawaiian poke bowls), Hot Chick (Nashville Hot Chicken with a Crunch) and House of Yum (a digital food court).

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