Blue Apron has in recent months transitioned to become a more asset-light business, selling its operational infrastructure and laying off staff.
Meal kit business Blue Apron announced Friday it has agreed to sell itself to food and restaurant company Wonder Group, founded by entrepreneur Marc Lore, for $103 million.In recent months, the company has transitioned to become a more asset-light business, selling its operational infrastructure and laying off significant swaths of its workforce.Friday it has agreed to sell itself to food and restaurant company Wonder Group, founded by entrepreneur Marc Lore, for $103 million.
The deal, at $13 per share, represents a significant premium from Blue Apron's per-share price at Thursday's close of $5.49. The sale caps years of ups and downs for Blue Apron, once a leader in at-home meal deliveries. In recent months, the company has transitioned to become a more, selling its operational infrastructure to California-based meal provider FreshRealm for $50 million and laying off significant swaths of its workforce.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly "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," Blue Apron CEO Linda Findley said in a statement Friday.Blue Apron has long been mired in strategic difficulties since its mid-2010s heyday.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wonder Group buying meal kit company Blue Apron for about $103 millionWonder Group is buying meal kit company Blue Apron for about $103 million as the company looks to enhance its offerings.
Read more »
Blue Apron to be sold to delivery startup Wonder Group in $103M dealBlue Apron announced the merger in a press release on Friday, which said Wonder is set “to acquire all outstanding shares of the company’s Class A common stock for a purchase price of $…
Read more »
Midday movers: Nike, Carnival, Blue Apron and more By Investing.comMidday movers: Nike, Carnival, Blue Apron and more
Read more »
Blue Apron reportedly strikes acquisition deal, stock soars 100%Blue shares were surging more than 100% in premarket trading Friday after the WSJ reported that the meal-kit company has reached a deal to be acquired.
Read more »
Stocks making the biggest moves before the bell: Nike, Blue Apron, Bumble and moreThese are the stocks posting the largest moves in premarket trading.
Read more »
Nike, Blue Apron, Bumble shares jump premarket By Investing.comNike, Blue Apron, Bumble shares jump premarket
Read more »