Foodtech startup Pluckk has acquired DIY meal kit platform KOOK. The acquisition was valued at $1.3 Mn in a cash and equity combination. While Pluckk majorly operates in Mumbai and Bengaluru, KOOK has its presence in Delhi and Mumbai. According to Pluckk, the acquisition marks a significant step towards growth and its entry into the food kit market. Pluckk states that the global meal kits market is projected to grow from $15.21 Bn in 2021 to $31.5 Bn by 2025, representing a 20% CAGR. Com
DIY meal kit platform. It’s interesting to note that KOOK estimates the Indian meal kit industry to be worth $1 billion by 2025, indicating significant potential for growth in this space. The deal, valued at $1.3 million in a cash and equity combination, is a significant step towards Pluckk’s expansion and entry into the food kit market. With the global meal kit market projected to grow at a CAGR of 20% from 2021 to 2025, this acquisition may provide Pluckk with a valuable opportunity to tap into this growing market. The acquisition was valued at $1.3 Mn in a cash and equity combination. While Pluckk majorly operates in Mumbai and Bengaluru, KOOK has its presence in Delhi and Mumbai. According to Pluckk, the acquisition marks a significant step towards growth and its entry into the food kit market. Pluckk states that the global meal kits market is projected to grow from $15.21 Bn in 2021 to $31.5 Bn by 2025, representing a 20% CAGR.
The acquisition of KOOK by Pluckk is expected to provide Pluckk with access to new markets and customers, as KOOK has a presence in Delhi and Mumbai. The $1.3 million deal was structured as a combination of cash and equity.
Pluckk’s move into the food kit market is a strategic one, as the global meal kits market is projected to grow at a CAGR of 20% from $15.21 billion in 2021 to $31.5 billion by 2025. This growth is being driven by the increasing demand for convenience, healthy and fresh meals, and the growing trend of cooking at home. With this acquisition, Pluckk hopes to tap into this growing market and expand its business.