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Mr Price gets green light to buy Yuppiechef techcentral.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcentral.co.za Daily Mail and Mail on Sunday newspapers.
Mr Price gets CompCom backing for R500m Yuppiechef deal moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.
Meet the Yuppiechef founders who will score in a R460 million takeover by Mr Price Business Insider SA facebook Yuppiechef founders Shane Dryden (left) and Andrew Smith in 2014. Photo: Yuppiechef Mr Price is buying Yuppiechef in a deal worth almost half a billion rand - in cash. A US hedge fund owns a minority stake in the online retailer, but the main beneficiaries are thought to be the company s three directors. The two founders started Yuppiechef on the side in 2006, and it took years before they earned money from it. For more articles, go to www.BusinessInsider.co.za. After starting Yuppiechef in a lounge in a middle-class Cape Town suburb, and waiting years for it to take off, the founders of the retailer have finally hit a massive pay day. ....
MONEYWEB app instead? Mr Price in surprise deal to buy Yuppiechef Acquisition will boost its online home and kitchenware offering, to take on the likes of TFGâs upper market @home chain. 11:05 Open: Open: Kitchen and homeware retailer Yuppiechef s store at the V&A Waterfront. Image: Supplied Durban-based clothing and home retail giant Mr Price Group announced it has entered into an agreement to purchase 100% of the issued share capital of local online kitchenware pioneer Yuppiechef on Monday. The surprise deal was revealed in a JSE Sens statement. INSIDERGOLD Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process. ....
Value retailer Mr Price has acquired Yuppiechef, the upmarket kitchen products retailer, for a sum that was not disclosed, but which represents 1% of its R47-billion market capitalisation, which would make the deal value around R450-million. This is well below the 5% market cap threshold at which the JSE requires mandatory disclosure. Yuppiechef burst on to the online scene almost 15 years ago, founded by two friends, Andrew Smith and Shane Dryden, who shared a passion for cooking and an interest in kitchen tools. The brand initially started with 32 products and now stocks thousands, including 300 of the world’s leading brands. Their focus on quality and service, which saw a handwritten thank-you note included in every delivery, convinced a still-sceptical public to shop online. ....