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October 3, 2023 :Meal kit delivery company Blue Apron has agreed to be acquired by Wonder Group, a food and restaurant company founded by entrepreneur Marc Lore, for $103 million. The deal, expected to close in the fourth quarter of 2023, represents a significant discount to Blue Apron’s valuation of $1.89 billion at its IPO in 2017.
Blue Apron’s acquisition by Wonder Group caps a tumultuous post-IPO ride for the company. Blue Apron was once a leader in the meal kit delivery market, but it has struggled in recent years as competition has intensified and consumer interest in meal kits has waned.
In recent months, Blue Apron has taken a number of steps to streamline its operations and reduce costs. The company has also sold its meal kit delivery infrastructure to FreshRealm, another meal kit company.
Wonder Group has said that it plans to continue operating Blue Apron’s meal kit delivery business under the Blue Apron brand. The company also plans to invest in Blue Apron’s product development and marketing efforts.
The acquisition of Blue Apron by Wonder Group shows that the meal kit delivery market is consolidating. Whether Wonder Group can turn around Blue Apron’s fortunes remains to be seen. However, the deal suggests that there is still some value in the meal kit delivery market, even as competition intensifies.
The acquisition of Blue Apron by Wonder Group is also a significant development for the food and restaurant industry. Wonder Group is a rapidly growing company with a number of innovative food concepts. The acquisition of Blue Apron gives Wonder Group access to Blue Apron’s customer base and its expertise in the meal kit delivery market.
It will be interesting to see how Wonder Group integrates Blue Apron into its existing business and how it plans to compete in the meal kit delivery market.
