South African meal kit delivery startup UCOOK has been fully acquired by Silvertree Holdings in a deal worth ZAR187 million (US$12.3 million).
Founded six years ago and now a market leader, UCOOK is a dinner kit delivery service providing sustainable and ethically sourced ingredients straight to a user’s doorstep.
Having previously received investment from Silvertree Holdings, the startup has now been acquired outright in a deal that sees co-founders David Torr, Christopher Verster-Cohen and Katherine Barry exit the business and hand the executive reins to Silvertree’s Peter Allerstorfer and his team.
“Peter is a great executive with a keen eye for detail, I look forward to watching from the sidelines as UCOOK explores new avenues,” said Torr. “We’re immensely proud of what we built, but I felt it was time to exit the business to allow me to focus on other ventures.”