Peckwater Brands acquires Eatclever
As part of this acquisition, the brand will add Hamburg-based eatclever’s food brands, which includes taste&soul, Chicos, and Korean Fried Chicken, to its portfolio
The UK-based operator of virtual food brands, Peckwater, has announced its acquisition of Eatclever, a virtual delivery brand in the DACH region (Germany, Austria and Switzerland).
The UK company will take over Eatclever’s operations in almost 100 restaurants across the DACH region, expanding their presence into three new countries across Europe.
As part of this acquisition, the brand will add Hamburg-based eatclever’s food brands, which includes taste&soul, Chicos, and Korean Fried Chicken, to its portfolio.
This takeover is Peckwater’s second European acquisition in the past five months, following the onboarding of the Honest Food Company in September. Its expansion is backed by Stonegate Group, SBI Investments, Fuel Ventures, and Pembroke VCT, bringing the company’s post-money valuation to £65m.
Peckwater operates delivery-only food brands from more than 500 unique locations across the UK, US, France, Belgium, Finland, Sweden, Hungary, Czechia, and the UAE.
In addition, the brand’s licensed restaurants span several categories including fried chicken, burgers and Central American, while they have run shared brands with partners such as Unilever, Buzzfeed, and Heinz.
Sam Martin, CEO and co-founder of Peckwater, said: “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. 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 kitchen operators across Europe.”
He added: “Our team has been working tirelessly to make our growth plans a reality, showing extraordinary commitment and insight while executing our strategy. I’m really proud of what they have achieved, and we anticipate more exciting developments and success.”