Meal-kit maker Blue Apron has announced it would be acquired by food delivery company Wonder Group in an all-stock deal for $103 million (€97.2 million).
Blue Apron stockholders will receive $13 per share, which represents a 137% premium to the stock's Thursday closing price of $5.49. The deal is expected to close in the fourth quarter of 2023.
Blue Apron was the first US meal-kit company to go public, with an IPO in June 2017, which valued the company at $1.89 billion.
Commenting on the deal, Wonder Group founder and chief executive officer, Marc Lore said, “When the opportunity presented itself to unite with Blue Apron, pioneers in the meal kit industry, we knew it would accelerate our strategic position, create immediate opportunities for synergy and most importantly, enable us to further delight customers by expanding the ways you can access and experience Wonder.”
The acquisition will help in creating a platform that that offers choice, flexibility and convenience, and enhance both companies’ abilities to deliver curated meals with quality ingredients to more customers across the US.
Blue Apron will continue to trade under the Blue Apron brand following the closure of the transaction.
“By joining forces with Wonder, we continue to realize our vision of Better Living Through Better Food, and support how families and loved ones come together over food,” said Blue Apron president and chief executive officer, Linda Findley.
“The Blue Apron brand and products that our customers know and love will stay the same, with more opportunity for product expansion in the future. Further, the transaction delivers immediate and certain value for Blue Apron stockholders at a significant premium over recent trading prices,” she added.
News by Reuters, additional reporting by ESM.