HelloFresh to buy rival Youfoodz

Meal delivery provider HelloFresh wants to buy rival Youfoodz for $125 million as merger and acquisition activity continues on the share market.

HelloFresh is listed on the Frankfurt Stock Exchange and allows people in 15 countries to order meals online and have them delivered.

The company is offering 93 cents per share to Youfoodz ASX investors.

The Youfoodz board has encouraged shareholders to accept.

Youfoodz has three production facilities in Brisbane and joined the ASX in December.

Shares in YouFoodz were higher by 77.45 per cent to 90 cents at 1125 AEST.