Pluckk, a digital fresh food brand in the Fruits and Vegetables (F&V) space, has acquired the entire stake in KOOK for $1.3 million to be paid in cash and equity. Kook is an Indian food-tech startup that specializes in providing pre-portioned ingredients and easy-to-follow recipes through its DIY Meal Kits.
KOOK has strong presence in Delhi and Mumbai. By acquiring KOOK, Pluckk aims to tap into the growth potential of the meal kit market, which is projected to reach $31.5 billion by 2025, representing a 20% CAGR from 2021.
With its expertise in fresh food and KOOK’s strong target audience and meal kit expertise, Pluckk aims to deliver the best quality fresh food to its end consumers in this thriving $15 billion market. This move is expected to present significant growth opportunities for Pluckk and help the brand establish itself as a key player in the DIY Meal Kit market.
“We are thrilled to welcome the young team of KOOK to the Pluckk family. Their demonstrated expertise in building a world-class product in the meal-kit space, coupled with our commitment to provide safe and chemical-free produce, will enable us to offer an unbeatable farm-to-fork experience to customers across India”, Nelson D’Souza, CFO, Pluckk, said
“We are thrilled to be joining forces with Pluckk and becoming a part of their innovative fresh food ecosystem. The synergies between what we are building at KOOK and the lifestyle first approach that Pluckk brings to the Fruits & Vegetables category seems very compelling,” KOOK, Co-Founder, Arpitta Jerath said.
“At KOOK, we are committed to making cooking easy and convenient for our customers and we are excited to bring our range of DIY Meal Kits to even more people through our synergies with Pluckk. We estimate the market size of meal kits to be around 1B USD by 2025 in India and we look forward to leveraging our expertise in meal kit delivery to offer healthy and delicious meal options to cater to this booming market in our country,” KOOK, Co-Founder, Nikhil Thatai said.
