Silvertree Holdings has fully purchased UCOOK, a South African meal kit delivery firm, for ZAR187 million (US $12.3 million).
UCOOK is a meal kit delivery service that delivers sustainable and ethically sourced products to a user’s doorstep. It was founded six years ago and is currently a market leader.
Silvertree Holdings had previously invested in the startup, which has now been purchased 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.
“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.”
