Butcherbox is known for taking over $600,000 in revenue and moving forward. The company has not traditionally followed the M&A path, but today it announced that it will acquire Truffle Shuffle. Some of you may remember him from a 2021 episode of Shark Tank (or maybe The Goonies). The acquisition could make Butcher Box's customers better cooks and broaden its appeal (and product line) to more customers.
Truffle Shuffle's goal is to make us home cooks feel like pros, and we do that by providing an easy-to-follow cooking show. When I tried it during the pandemic, I was struck by how the company was able to make even fairly advanced cuisine accessible and fun. There were lots of little tips and tricks including posture and stops to make cocktails and dance parties along the way. Home cooks show off how far the cooking process goes and how delicious the meal looks while it's being prepared.
The companies declined to disclose the terms of the deal, but a Butcher Box spokesperson confirmed it was a cash-only offer.
Bring Michelin-starred cuisine to your kitchen
As always, one of the most important things in starting a startup is founder-market fit. The two founders, Jason McKinney and Tyler Vohs, have some crazy stories on that front. They met at a Michelin-starred French restaurant. I started doing laundry and decided to start a truffle business.
Truffle Shuffle chef Tucker Riccio is the winner of Gordon Ramsay's Next Level Chef. Image credit: Jay Maidment / Next Level Chef
Truffle Shuffle was founded with two objectives: to help chefs and consumers source authentic truffles, and to develop unique truffle-infused products. But with the pandemic, they suddenly found themselves with $20,000 worth of perishable high-end truffles on hand and no restaurants open to buy them.
That's when the cantankerous founder steps up to the plate. In response to these unusual circumstances, the team pivoted to direct-to-consumer sales and introduced a unique live cooking experience. This revolutionary change saved the business and was the birth of a new idea.
The business grew from there. The team has launched a platform that gives guests the opportunity to choose the dishes they would like to learn to cook. Once you have made your selection, the company will send you all the ingredients you need to prepare a Michelin-quality meal at home. The solution not only helped the company manage excess inventory, but also brought a gourmet cooking experience to the kitchens of gourmet lovers across the country, and ultimately caught the eye of Butcher Box.
“Jason and Tyler are incredibly fastidious entrepreneurs and extremely talented chefs,” Mark Cuban said in a statement to TechCrunch. “It’s so gratifying to see them growing their community of home chefs and impacting so many homes in such a short period of time. Shuffle will be an inspiration to his community and a valuable tool to the Butcherbox community as well.”
It turns out Shark Tank wasn't the only time the team got involved with TV celebrities. The company's other high-profile chef, Tucker Riccio, won $250,000 as part of Gordon Ramsay's Next Level Chef last May, but it can't have hurt. Truffle Shuffle profile and public awareness.
Acquired by Butcher Box
ButcherBox has been growing rapidly for some time and recently expanded into a line of pet food called ButcherBox For Pets.
The company says the acquisition of Truffle Shuffle is its first acquisition to date and seems like a logical extension to the company's “Just Cook” recipe and learn-to-cook sites. But for now, the acquired company will operate under its own brand, and while the company is considering how best to integrate it more permanently into the ButcherBox brand, the company hopes ButcherBox customers will have more immediate access to this content. He said he is excited to be able to do so.
“Truffle Shuffle, in my eyes, is more than just a recipe and video platform. The community the team has cultivated is what sets them apart,” said Mike Salguero, Founder and CEO of ButcherBox. said in an interview with TechCrunch. They empower and celebrate individuals who learn to cook in their own kitchens, while having fun, eating better, and improving the skills of others as they continue on their culinary journey. As a brand, our purpose is to help people eat better, and we've been focused on helping people get more high-quality protein, but with the integration of Truffle Shuffle, Through, we can also inspire and educate you on how to prepare protein. ”
Meanwhile, Butcher Box continues its mission to make meat consumption healthier and more conscious. Meat has always been a morally complex area (especially when viewed from a climate perspective), but the company says it's doing the best it can. Among other things, the company is registered as a B-Corp and invites animal rights groups to hold it accountable.