Durban-headquartered retail group Mr Price said on Monday that it has reached an agreement to buy 100% of Yuppiechef, an “omnichannel” retail business focused on kitchenware, for about R470-million in cash.. Shop online or in-store. Yuppiechef is a privately owned South African business that focuses on home- and kitchenware. Posted in Industry News Tagged Mr Price, mr price home, online shopping, South Africa, yuppiechef EskomSePush app temporarily suspended from Google Play Store News • 16 Mar 2021 Andrew Smith and Shane Dryden founded […] Dismiss. Yuppiechef (2) Done. The business has two major operations – Yuppiechef Online, the retail division comprising the web platform and … WC farmworkers air grievances with labour minister over UIF access, First remains from doomed 19th-century Arctic expedition identified, IndyEats newsletter: Mouthwatering recipes and reviews delivered to you weekly, Live: President Ramaphosa's Q&A session in Parliament, El Salvador Government Defiant After Ousting Supreme Court Judges, Nomzamo Mbatha featured on Global Citizen Vax Live lineup. Retail Group Mr Price Manages To Buy 100% Of Yuppiechef! Print. SA-born Duhan van der Merwe ready to roar for British and Irish Lions, NSFAS explains why there has been funding backlogs, SA artists whose work is used on TikTok, Facebook and Netflix will now get royalties, Sarah Jessica Parker launches new wine and the SATC girls would approve. Advertisement. Mr Price Group has entered into an agreement to acquire 100% of privately-owned homeware retailer Yuppiechef. Yuppiechef was founded in 2006 and is aimed at the distribution of aspirational kitchen and homeware brands. Mr Price says it will pay approximately 1% of market capitalisation, in a cash deal. UBUY: The New Hope For E-commerce Growth in South Africa. The retail group, Mr Price, has made a move to purchase 100% of Yuppiechef. JOHANNESBURG - Fashion and homeware retailer Mr Price has moved to buy high-end kitchenware company, Yuppiechef. For those who love high-end kitchenware, Yuppiechef is a firm favourite for online shopping. Mr Price’s market cap before the announcement was almost R47 billion, which means it will buy Yuppiechef for roughly R470 million in cash. The business has two primary divisions – Yuppiechef Online and a separate wholesale division that develops, … “Yuppiechef will benefit from our financial strength to accelerate growth plans which include significantly broadening the product assortment into areas where we have well-established skills and expanding its physical presence beyond the currently limited number of stores. Mr Price Group on Monday announced it had entered into an agreement to acquire 100% shares of kitchenware retailer Yuppiechef. Mr Price, the budget clothing and homeware retailer, said the purchase consideration for Yuppiechef represents about 1% of market capitalisation and … Retail group Mr Price has moved to purchase 100% of Yuppiechef, a privately-owned South African business focused on home and kitchenware. The business has two primary divisions – Yuppiechef Online and a separate wholesale division that develops, and imports branded goods for wholesale distribution. We all take our responsibilities seriously, and are committed to making Yuppiechef the best that it can be. Experience Level. Job Type. The business has two primary operations: Yuppiechef Online, the retail division comprising the online platform and seven stores, as well as a wholesale division, which … Mr Price is buying Yuppiechef for R460 million, in cash. Shop latest Products. Because Yuppiechef has recently agreed to become a part of the Mr Price Group, and be owned by them, once the deal is approved by the Competition Commission. In November, Mr Price sealed a deal to buy Power Fashion. Delivery throughout South Africa. Retail group Mr Price has moved to purchase 100% of Yuppiechef, a privately-owned South African business focused on home and kitchenware. Retail group Mr Price has moved to purchase 100% of Yuppiechef, a privately-owned South African business focused on home and kitchenware. We're going to carry on pushing our service levels as high as they can be, from our same offices and warehouse in our corner of Cape Town, with the same awesome people in them. We're going to have more support in achieving our vision. Mr Price's current market cap is almost R47-billion, which puts a roughly R470-million value on the takeover. Ban on lion hunting and captive breeding – What is all the fuss about? WATCH: Will it be another snoozefest at the Spanish Grand Prix? The Mr Price Group believes in what we're doing now and how we're doing it, and is giving their backing to help Yuppiechef become an even better version of itself. “We are very excited about welcoming the Yuppiechef team into our family. Location. The Yuppiechef management team would continue to run the business. Mr Price says Yuppiechef was founded in 2006 with a vision to build a platform for the distribution of aspirational kitchen and homeware brands. The brand has made a name for itself over the past 15 years by offering quality products and personalised service. Full-time (2,337) Contract (119) Part-time (48) Internship (36) Temporary (15) Done. Article found on BizCommunity Mr Price Group has entered into an agreement to acquire 100% of privately-owned homeware retailer Yuppiechef. We're still going to be the same Yuppiechef in name and people and the way we work. Shop by price. This lambs wool duster is a powerful cleaning tool that makes light work of daily dusting, without the need for toxic cleaning chemicals or expensive replacemen Mr Price buys Yuppiechef for R470 million 16 March 2021 M&A Community The all-cash deal will allow Mr Price to access higher LSM clients. Connect with friends faster than ever with the new Facebook app. Mr Price Group has announced that it will purchase 100% of Yuppiechef, a South African e-commerce business focussed on home and kitchenware. Mr Price’s market cap before the announcement was almost R47 billion, which means it will buy Yuppiechef for roughly R470 million in cash. Mr Price Group has announced that it will purchase 100% of Yuppiechef, a privately-owned South African ecommerce business focussed on home and kitchenware. Yuppiechef was founded in 2006 with a vision to build a platform for the distribution of aspirational kitchen and homeware brands. 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March 2021, © Yuppiechef Online (Pty) Ltd | Legal & Privacy Policy | Returns & Repairs Policy. Please read the full story in today’s Business Report – 16 March 2021. Mr Price says it will pay approximately 1% of market capitalisation in a cash deal. The Yuppiechef team Associate (1,051) Entry level (785) Mid-Senior level (465) Director (135) Executive (39) Done. Yuppiechef was based in 2006 and is aimed on the distribution of aspirational kitchen and homeware manufacturers. And we'll keep bringing you high quality kitchen and home finds that excite and inspire us and you, and sharing them wherever it suits you best, whether online or in-store. Yuppiechef is a … Yuppiechef was based in 2006 and is aimed on the distribution of aspirational kitchen and homeware manufacturers. Shop by brand. NDZ wants implementation of district model ramped up. Some of us have been around for a long time, helping craft the company that Yuppiechef has become, and some of us are privileged to have come more recently to work for a brand that customers have shown so much love to over the past 14 years. Latest Humble + Mash Super sharp knives. Mr Price says it will pay approximately 1% of market capitalisation, in a cash deal. The Mr Price Group has announced that it has entered into an agreement to purchase Yuppiechef. The move was announced today, in a statement on the Mr Price Group website , though the exact terms of the acquisition were not detailed. Mr Price CEO, Mark Blair, said as a founder-led business, Yuppiechef share Mr Price’s entrepreneurial roots and are eager to jointly realise the company’s ambitions. 0 0 . Pour Salt Down Your Drain At Night, Here's Why, People who really went the extra mile when they quit. Yuppiechef was founded in 2006 by Andrew Smith and Shane Dryden in Cape Town. Microsoft and partners may be compensated if you purchase something through recommended links in this article. Find out more. Location. CEO Ralph Mupita Wants MTN To Tap Into Opportunities in Africa Government Revising Guidelines On Broadband Connectivity. Mr Price has introduced a new range of wallpapers in its home segments. The purchase consideration will be settled entirely in cash, and the Yuppiechef management team will continue to run the business with the support of the Mr Price executive team. The outfit has online and physical stores as well as a wholesale division. Yuppiechef is a privately owned South African business that focuses on home- and kitchenware. This would imply that Mr Price is acquiring Yuppiechef for around ZAR 470 Mn (USD 31 Mn). Shop most popular. Job Type. Shop Great Gifts. Social media was buzzing on Monday with the news that Mr Price had acquired high-end kitchen product retailer, Yuppiechef! Mr Price Group has entered into an agreement to acquire 100% of privately-owned homeware retailer Yuppiechef. Mr Price in surprise deal to buy Yuppiechef moneyweb.co.za - By Suren Naidoo • 25d 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 … Read more on moneyweb.co.za Donate Now. The purchase consideration represents approximately 1 percent of market capitalisation and will be settled subject to regulatory and commercial conditions, including competition authority approval. Yuppiechef commenced operations as a pure e-commerce company and has transitioned since 2017 into an omnichannel retail platform. Yuppiechef was founded in 2006 and is aimed at the distribution of aspirational kitchen and homeware brands. Related. SOUTH AFRICA – Publicly traded retailcompany Mr Price has revealed that it has reached an agreement to buy 100% of Yuppiechef, an “omnichannel” retail business focused on kitchenware, for about US31.6 million in cash. Last November, Mr Price bought Durban-based clothing retailer Power Fashion to expand its presence in the mid to lower end of the market. Advertisement. Experience Level. by TheTechDailyPost. The Mr Price Group believes in what we’re doing now and how we’re doing it, and is giving their backing to help Yuppiechef become an even better version of itself. moneyweb.co.za - By Suren Naidoo • 38d. The business has two primary operations: Yuppiechef Online, the retail division comprising the online platform and seven stores, as well as a wholesale division, which … Mr Price Group has entered into an agreement to acquire 100% of privately-owned homeware retailer Yuppiechef. The retail division accounts for 85% of its turnover, with 70% coming via e-commerce. S outh Africa’s retailer Mr Price is spending R450 million to buy online retailer Yuppiechef.Mr Price said it will pay1% of its market capitalisation for Yuppiechef. Mr Price Group has announced that it will purchase 100% of Yuppiechef, a South African e-commerce business focussed on home and kitchenware. Like us on Facebook to see similar stories, KZN Department of Transport manager in court over R900k fraud allegations, Five art collectives shortlisted for Turner prize, From Ipopeng to Paris, SA designer Thebe Magugu is going places, Great Scot! Johannesburg (806) Cape Town (422) East London (135) Durban (123) Pretoria (115) Done. Yuppiechef is an online retailer of kitchen and homeware products founded in 2006 by Andrew Smith and Shane Dryden in Cape Town, South Africa. Mr Price Is Buying Yuppiechef. Yuppiechef was founded in 2006 with a vision to build a platform for the distribution of aspirational kitchen and homeware brands. It's paying an estimated R470-million in cash for the omnichannel retailer. This would imply that Mr Price is acquiring Yuppiechef for around ZAR 470 Mn (USD 31 Mn). 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 Money Show’s Bruce Whitfield interviews Byron Lotter, a Portfolio Manager at Vestact. The move was announced today, in a statement on the Mr Price Group website , though the exact terms of the acquisition were not detailed. [BUSINESS] Mr Price has moved to buy high-end kitchenware company, Yuppiechef. Mr Price Group has announced that it will purchase 100% of Yuppiechef, a privately-owned South African eCommerce business focussed on home and kitchenware. Yuppiechef was founded in 2006 with a vision to build a platform for the distribution of aspirational kitchen and homeware brands. SOUTH AFRICA – Publicly traded retailcompany Mr Price has revealed that it has reached an agreement to buy 100% of Yuppiechef, an “omnichannel” retail business focused on kitchenware, for about US31.6 million in cash. Mr Price has moved to purchase 100% of Yuppiechef, a privately-owned South African business focused on home and kitchenware. S outh Africa’s retailer Mr Price is spending R450 million to buy online retailer Yuppiechef.Mr Price said it will pay1% of its market capitalisation for Yuppiechef. As a founder-led business, they share our entrepreneurial roots and we are eager to jointly realise the company’s ambitions. … Mr Price Group has announced that it will purchase 100% of Yuppiechef, a privately-owned South African eCommerce business focussed on home and kitchenware. Retail group Mr Price has moved to purchase 100% of Yuppiechef, a privately-owned South African business focused on home and kitchenware. Reuters – South African budget retailer Mr Price Group said on Monday it would buy privately-owned kitchenware company Yuppiechef in a cash deal to bolster its online presence and premium offerings. ‐ Toggle sub‐menu for Gifting & Vouchers. Yuppiechef was founded in 2006 with a vision to build a platform for the distribution of aspirational kitchen and homeware brands. Durban-headquartered retail group Mr Price said on Monday that it has reached an agreement to buy 100% of Yuppiechef, an “omnichannel” retail business focused on kitchenware, for about R470-million in cash. Yuppiechef was founded in 2006 and is aimed at the distribution of aspirational kitchen and homeware brands. South African budget retailer Mr Price Group said on Monday it would buy privately-owned kitchenware company Yuppiechef in a cash deal to bolster its online presence and premium offerings. 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