Campbell Soup Company Makes $10 Million Investment In Chef’d
The Campbell Soup Company has announced that it has entered a strategic partnership with Chef’d, a meal kit provider, and has invested $10 million into the business' online marketplace.
Campbell claims this move will help to grow its e-commerce capabilities. The investment means Campbell will become largest strategic investor in Chef'd, and will receive a seat on the company’s board of directors.
Chef’d will help with the infrastructure and distribution of meal solutions through the Campbell’s Kitchen site. Campbell said it will benefit from the insight of Chef'd on e-commerce business models, consumer behaviour and its access to data analytics.
E-Commerce And Food
Denise Morrison, president and CEO of Campbell Soup Co. commented on the deal. “E-commerce will transform the food industry in similar ways to how it transformed entertainment and apparel," she said. "It is a game changer for consumers, food makers and retailers alike.
“The movement is irrevocable and irreversible. In the future, shopping for and preparing meals will be flexible, fully automated and even anticipatory. Chef’d will help Campbell connect with our consumers where they are today and, more importantly, where they’re headed.”
Chef’d partners with notable chefs, culinary personalities and over 125 trusted brands in food, fitness, and health and wellness to offer over 1,000 meal solutions spanning breakfast, lunch, dinner and dessert.
Commenting on the announcement, Chef’d CEO, Kyle Ransford said, “We are actively looking to add strategic partners and Campbell’s outlook on the future of food and e-commerce aligns perfectly with the Chef’d vision of the future of online grocery […] Both Campbell and Chef’d believe in continuing to drive innovation in the new food economy, particularly around consumer customisation and e-commerce solutions.”
With this agreement in mind, Campbell predict its e-commerce sales of food and beverages will reach $66 billion between 2016 and 2021, a growth rate of 38%.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.