Garrett-Cox lined up to lead flotation of Gousto
Katherine Garrett-Cox: likely new chairman
Former fund management high flyer Katherine Garret-Cox is expected to be hired as chairman of Gousto, the meal-kit subscription service, ahead of a likely IPO.
Her appointment could be announced before the end of this month and is expected to kickstart the flotation of another food delivery company.
Ms Garrett-Cox rose to prominence at Aberdeen Asset Management during the split-cap crisis in 2002 before joining Dundee-based Alliance Trust as chief executive. She was ousted by the activist investor Elliott Advisors.
She now runs the UK arm of Gulf International Bank, and also spent several years on Deutsche Bank’s supervisory board.
Gousto has yet to confirm an IP, although sources have told Sky News that Rothschild has been retained to work on it.
The company will want to cash in on a period of strong growth as consumers have turned to meals at home during the pandemic. It announced last month that it aimed to double its workforce to 2,000 and open two further distribution of warehouses.
Gousto also said that it had recorded its first full-year of profit since being founded, which should encourage potential investors who had their fingers burnt in the flotation of loss-making Deliveroo.
The company, which last year announced it had achieved ‘unicorn’ status – companies valued at $1bn – was founded by Timo Boldt and James Carter, two former investment bankers.