GreetEat Signs Binding LOI to Acquire ChefKart
Rhea-AI Summary
GreetEat (OTC: GEAT) announced a binding letter of intent with ChefKart Hospitality Private Limited to acquire all of ChefKart’s equity, subject to due diligence, definitive agreements, financing, approvals, and other customary closing conditions. Upon completion, ChefKart would become a wholly owned subsidiary of GreetEat.
The proposed deal would add ChefKart’s India-based, technology-enabled home-chef platform, management team, chef network, customer relationships, and existing revenue base to GreetEat’s technology-platform strategy across consumer services, hospitality, and market intelligence. According to GreetEat, the transaction would mark an expansion into an operating consumer-services platform in India and support both companies’ plans to develop technology-enabled platforms that simplify access to recurring in-home cooking services.
Positive
- Binding LOI signed for GreetEat to acquire 100% of ChefKart equity
- Proposed deal adds an operating, revenue-generating home-chef platform in India
- Acquisition would expand GreetEat into India consumer-services with existing chef and customer network
- ChefKart management team and technology integrated into broader platform strategy
Negative
- Transaction subject to due diligence, financing, approvals, and customary conditions
- Company warns there is no assurance the acquisition will be completed
Key Figures
Key Terms
letter of intent financial
wholly owned subsidiary financial
due diligence financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Pending acquisition would make ChefKart a wholly owned subsidiary of GEAT, adding its technology-enabled home-chef platform and expanding GreetEat’s consumer-services operations into India
RENO, Nev., Aug. 11, 2026 (GLOBE NEWSWIRE) -- GreetEat Corporation (OTC: GEAT) ("GreetEat" or the "Company"), a technology company focused on developing and expanding technology-enabled platforms across consumer services, hospitality, and market intelligence, today announced that it has entered into a binding letter of intent (the "LOI") with ChefKart Hospitality Private Limited ("ChefKart") to acquire the India-based, technology-enabled platform through which households can book trained and verified home chefs for recurring in-home cooking services.
Under the LOI, GreetEat would acquire, subject to the satisfaction of the applicable conditions, all of the equity of ChefKart. Upon completion, ChefKart would operate as a wholly owned subsidiary of GreetEat. The intent is for GreetEat to preserve and build upon ChefKart’s existing operations while evaluating opportunities to support its continued development in India. Founded in 2020, ChefKart operates a technology-enabled platform connecting households with home chefs. The proposed acquisition would bring ChefKart’s operating business, technology, management team, chef network, customer relationships and existing revenue base into GreetEat’s broader platform strategy.
The pending transaction also reflects GreetEat’s strategy of developing and expanding technology-enabled platforms that simplify participation, improve information flow, and reduce friction across consumer-service markets. ChefKart applies that technology-platform model to an everyday household need by facilitating recurring connections between households in Indian cities seeking in-home cooking support and qualified chefs seeking service opportunities.
“Executing this binding LOI is an important step for GreetEat and reflects the direction we have been working toward as a Company,” said Vishal Patel, Chief Executive Officer of GreetEat Corporation. “ChefKart has built a technology-enabled operating platform in India, around a growing and recurring household need, supported by a management team with direct experience in the India marketplace. We believe the proposed combination is consistent with GreetEat’s broader platform strategy and can provide a meaningful foundation for the Company’s continued development.”
For GreetEat, the proposed acquisition would represent an expansion into an operating consumer-services platform in India and a step toward building a more diversified technology-platform company. For ChefKart, the proposed combination is intended to provide a public-company framework and access to strategic resources that would potentially support ChefKart’s next stage of development.
“ChefKart was built to make dependable in-home cooking services easier for households to access while creating structured opportunities for trained chefs,” said Vaibhav Gupta, Co-Founder and Chief Executive Officer of ChefKart. “The proposed combination would bring together ChefKart’s operating experience in India and GreetEat’s public-company platform and broader strategic reach. We look forward to completing the remaining work required under the LOI, closing this transaction, and actively pursuing the next phase of ChefKart’s development together with GreetEat.”
Management for both companies remind current and potential stakeholders that the proposed transaction remains subject to due diligence, definitive agreements, required approvals, financing, and customary closing conditions. Although the binding LOI represents meaningful progress, substantial work remains, and there can be no assurance that the transaction will be completed on the contemplated terms, within the anticipated timeframe, or at all. Both companies, however, are firmly committed to moving forward in earnest, and intend to provide additional information as it is substantiated and disclosure becomes appropriate.
About ChefKart Hospitality Private Limited
Founded in 2020, ChefKart Hospitality Private Limited is an India-based, technology-enabled platform through which households can book trained and verified home chefs for recurring in-home cooking services. ChefKart is headquartered in Gurugram, India, and currently serves the Delhi National Capital Region. To learn more, visit https://thechefkart.com.
ChefKart Socials:
X @thechefkart | LinkedIn thechefkart | Instagram @thechefkart | Facebook thechefkart
About GreetEat Corporation
GreetEat Corporation (OTC: GEAT) is a technology company focused on developing and expanding technology-enabled platforms across consumer services, hospitality, and market intelligence. Through its operating initiatives and strategic development activities, GreetEat seeks to build platforms that improve how participants access information, services, and opportunities. To learn more, visit https://greeteat.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates, and projections about the Company’s business and industry, management’s beliefs, and certain assumptions made by management. Such statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied.
Forward-looking statements in this release include statements concerning the proposed acquisition of ChefKart; the negotiation and execution of definitive agreements; the completion of due diligence; the availability of required financing; the receipt of necessary approvals; the satisfaction of other closing conditions; the anticipated structure and potential benefits of the proposed transaction; ChefKart’s continued development; and GreetEat’s broader strategy. The proposed transaction may not be completed on the contemplated terms, within any anticipated timeframe, or at all; required financing or approvals may not be obtained; due diligence may identify adverse matters; and anticipated benefits may not be realized.
The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable law.
Investor Relations and Media Contact
GreetEat Corporation
Email: investors@GreetEat.com
Website: https://greeteat.com
Connect with GreetEat
GreetEat: X @GreetEats | LinkedIn GreetEat Corporation | Instagram @greeteat_ | TikTok @GreetEat | Facebook GreetEatApp
