Nadia Lim and her husband Carlos Bagrie are taking on their biggest project yet – taming 1200 acres of rugged South Otago farmland at Royalburn Station. Video / Three
Meal kit company My Food Bag has sponsored Nadia Lim’s new TV show Nadia’s Farm.
The TV3 show has yet to launch, but ads have popped up teasing the show, which follows Lim and
her husband Carlos Bagrie as they undertake “their biggest project yet” to tame 485 hectares of rugged South Otago farmland at Royalburn Station.
My Food Bag is sponsoring the show as part of its marketing plan for the current quarter. It’s unclear how much the sponsorship deal is worth.
Lim, who founded the now NZX-listed company in 2012 alongside Bagrie, Cecilia and James Robinson and Theresa Gattung, is a minority shareholder and brand ambassador.
Lim is considered synonymous with My Food Bag, and as part of Nadia’s Farm sponsorship, Lim will be preparing meals during the show which will then be available to order in the coming weeks through My Food’s subscription service. Bag.
The Herald understands that My Food Bag’s development kitchen, which creates the recipes for its meal kits, always uses Lim’s “food philosophy” when reviewing meals. Lim is a nutritionist by trade and a celebrity judge on Masterchef.
My Food Bag has been making headlines in recent months after its continued poor share price performance and failure to satisfy the market.
The company listed on the New Zealand Stock Exchange in March 2021 and its stock has been on a downward trend ever since. The shares were sold in an IPO at $1.85 a share, but listed at $1.74 before continuing to fall despite the company hitting its financial guidance in the prospectus. The shares are trading at 65 cents today.
On Friday, My Food Bag announced that it had received the resignation of chief executive Kevin Bowler and that its last day with the company would be October 14.
Chief Financial Officer Mark Winter will act as interim CEO while the company searches for a permanent replacement.
Hobson Wealth Partners investment strategist Ed Glennie said My Food Bag’s sponsorship of Nadia’s Farm was a good move and would put My Food Bag in front of more eyeballs, which would likely result in increased sales of kits.
Glennie said Nadia Lim has huge star appeal and My Food Bag likely recognized the opportunity to capitalize on that.
“Being sponsored by My Food Bag would suggest they’re trying to build a brand and see it as worth investing in; resonating with Nadia,” Glennie told the Herald.
“For me, that means they’re trying to rekindle things, which is a positive step, because in the past they hadn’t wanted to pursue this.”
Glennie brought up My Food Bag, passing on the opportunity to sponsor Masterchef. The Herald awaits more information on this.
Joanne Mitchell, Chief Customer Officer of My Food Bag, said the company is a proud sponsor of Nadia’s Farm.
“Our partnership with Nadia is longstanding and will reinforce our unique positioning in this category as the Kiwi brand that is extremely proud to deliver fresh, quality, locally sourced meals across New Zealand, every week,” said Mitchell. .
“Our involvement will also ensure that all of New Zealand can take part in Nadia’s adventure through our meal kits.”
My Food Bag posted net income of $20 million after tax and revenue of $194 million, and delivered more than 18 million meals in FY22.