M&A

M&A

Cloud kitchen startup Curefoods acquires five food brands

Inc42  

Bengaluru-based Curefoods, a cloud kitchen startup, has acquired five brands to strengthen its direct-to-consumer play and create a house of brands on its platform. The five brands are Mumbai-based legacy pizza brand Juno's Pizza, Bengaluru-based cupcake brand Cupcake Noggins (it will be merged into existing delicacy brand CakeZone), Bengaluru-based organic ice cream brand Iceberg, Delhi NCR-based pizza delivery startup Nomad Pizzas, and Jaipur-based multi-brand cloud kitchen company White Kitchens. Curefoods now has more than 20 brands in its portfolio. It is looking to onboard 25+ brands by mid-2022, and 35+ brands by year-end. Currently, the 2020-founded foodtech acquirer has over 75 cloud kitchens. By the end of 2022, Curefoods looks to acquire 35+ brands, paying EBITDA multiples of 8-15x, eyeing an ARR of $100 Mn.

From the Venture Intelligence PE-VC Deal Database: In Aug-21, Curefoods raised $13-M from Nordstar, Iron Pillar, and others.