Silvertree Holdings Acquires UCOOK In A $12.3m Deal
The South African dinner kit delivery startup service provides sustainable and ethically sourced ingredients straight to a user’s doorstep.
Silvertree Holdings has fully acquired UCOOK in a deal worth ZAR187 million (US$12.3 million).
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.
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David Torr, Silvertree Holdings Co-Founders said: “Peter is a great executive with a keen eye for detail; I look forward to watching from the sidelines as UCOOK explores new avenues. 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.”