November 13, 2019 / 12:32 PM / 8 months ago

Brazil's GPA acquires control of meal-kits startup Cheftime

SAO PAULO, Nov 13 (Reuters) - Brazilian supermarket chain Grupo Pao de Acucar SA (GPA) said on Wednesday it has acquired control of meal-kits startup Cheftime for an undisclosed amount.

The local subsidiary of France’s Casino Guichard Perrachon SA announced in November 2018 a strategic partnership with Cheftime, in which GPA would have the right to acquire control of the startup within 18 months.

Cheftime, which calls itself a foodtech, has sold over 85,000 meals since November, GPA said in a securities filing, adding more than 150 of its stores already sell meal-kits provided by Cheftime. (Reporting by Gabriela Mello; Editing by Susan Fenton)

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