Silvertree Holdings has acquired the remaining stake to reach a 100% stake in South African meal kit delivery startup Ucook for R187-million (US$12-million). Ucook is a dinner kit delivery service providing sustainable and ethically sourced ingredients straight to a user’s doorstep. The company was established by David Torr and Chris Verster-Cohen who felt there was a market for people who want a convenient way to make dinner. The acquisition reflects Silvertree Holdings’ ability to grow businesses that leverage technology to reach the end-consumer.
Silvertree Holdings is a holding and operating company based in South Africa that creates, launches, operates and invests in early- and mid-stage companies targeting the South African and Sub-Saharan African markets. The company has invested in upcoming tech companies known as Ucook, CarZar, PriceCheck, Faithful to Nature and CyberCellar among others. Silvertree Holdings was established in 2014 and has maintained a rapid growth trajectory.