Press Release: June 26, 2020
Today, Accel-KKR and Nosh Technologies announced the purchase of Nosh by AKKR, a food-management company based in London. The amount of the transaction was not disclosed.
Nosh Technologies is the leading provider of food and waste management software to U.S. and U.K. clients. Its first flagship product, 'nosh', brought to market in 2020 and based on a proprietary artificial intelligence system, was originally designed to make food management more efficient and reduce food waste. Since its inception, Nosh Technologies further broadened its offerings into the food analytics sector by acquiring behemoth 'ReMe Basket'. To date, the company has generated thousands of analytics reports aimed at making food management easier to understand and helping people make better decisions.
Somdip Dey, co-founder of Nosh Technologies, stated, "We are pleased with the purchase by Accel-KKR, a leading firm that has vast experience in our specific industry. The purchase will allow Nosh to have an even bigger footprint in the food management industry and to help more people, which is what we are all about."
According to Park Durrett, managing director at Accel-KKR, "Companies like Nosh are essential partners to food retail institutions that are both under pressure to grow but also comply with a constantly changing regulatory environment. We are excited about the opportunity to work with the Nosh's team to continue to innovate and deliver increasing value to its customer base."
About Nosh Technologies
Nosh Technologies provides a fully automated AI-enhanced food-management application for Android and iPhone. The motto of the company is ’Convenience comes first’. Visit www.nosh.tech to learn more.
Accel-KKR is a technology-focused investment firm with $4.3 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. For more information, please visit www.accel-kkr.com.