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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.
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 asset-light business, selling its operational infrastructure to California-based meal provider FreshRealm for $50 million and laying off significant swaths of its workforce.
“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.
A checkered past
Blue Apron has long been mired in strategic difficulties since its mid-2010s heyday.
The company was…
2023-09-29 14:37:57
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