Silvertree Holdings has fully acquired South African meal kit delivery business UCOOK in a deal worth US$12.3 million.
Silvertree Holdings had previously invested in the startup, which has now been acquired entirely, with co-founders David Torr, Christopher Verster-Cohen, and Katherine Barry exiting the company and Silvertree’s Peter Allerstorfer and his colleagues taking over the executive reins.
Ucook acquired Granadilla Eats in cooperation with its sibling company Faithful to Nature in the middle of last year (FTN).
Granadilla Eats is an online food and fresh produce delivery service that was developed out of the need for a trustworthy grocery delivery service during the onset of the pandemic in March 2020.
“Peter is a fantastic executive with a sharp eye for detail, and I’m excited to observe from the sidelines as UCOOK pursues new opportunities,” Torr said. “We’re quite happy with what we’ve accomplished, but I felt it was time for me to go on to new endeavors.”
UCOOK is a meal kit delivery service that delivers sustainable and ethically sourced ingredients to a user’s doorstep. It was founded six years ago and is currently a market leader.
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