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UK firm that helps kitchens create delivery brands goes on acquisition trail

Food

The UK largest operator of virtual food brands has made an acquisition that strengthens its presence in the European market.

Peckwater Brands has snapped up Hamburg-based eatclever, which serves the DACH region, covering Germany, Austria and Switzerland.

Peckwater already operates delivery-only food brands from more than 500 unique locations across nine countries.

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The deal adds a further 100 sites to its portfolio, as well as brands such as taste&soul, Chicos and KoChi (Korean Fried Chicken).

Peckwater only launched its business four years ago but has rapidly built an offering of virtual food brands that found on third-party delivery platforms such as Deliveroo and Just Eat.

Food is prepared in kitchens around the world in tandem with operators’ regular offering. It claims to be able to transform any kitchen into a multi-franchise operation, integrating with their existing operations and opening them up to vastly increased demand across different brands and cuisines.

The takeover is Peckwater’s second European acquisition in the past five months, following the takeover of the Honest Food Company in September.

Its international expansion has been fuelled in part by a £15m Series A funding round that it completed in June 2022, backed by Stonegate Group, SBI Investments, Fuel Ventures, and Pembroke VCT. The business is now valued at £65m.

Sam Martin, CEO and co-founder of Peckwater, said: “This is such an exciting development for us. With eatclever, we have acquired the virtual brand delivery market leader across Germany, Austria, and Switzerland, which is a tremendous opportunity to increase our presence in central Europe, and we’re thrilled to bring eatclever’s excellent selection of brands under the Peckwater umbrella.

“In the past 12 months we’ve greatly accelerated our international expansion, boosted by our Series A funding round last summer. We’re now in seven new markets and working with hundreds of new clients – kitchen operators across Europe. The DACH market is a promising new arena for us, and this acquisition further cements our position as Europe’s leading virtual food brand operator.”

Tags : deliverypeckwater brandsvirtual food brands
Andrew Seymour

The author Andrew Seymour

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