By Heather Haddon
Albertsons Cos. is buying the Plated meal-kit service, the first acquisition of a prepared-meals company by a national grocery chain as supermarkets scramble to keep shoppers coming to their stores.
The New York-based Plated, which does business as DineInFresh Inc., will operate as a subsidiary of the U.S.’s second largest grocery chain, the companies said. Customers will be able to buy a rotating selection of meals like chicken Marsala with roasted potatoes and feta-stuffed lamb burgers for delivery or pickup at Albertsons stores in coming months. They currently cost $10 to $12 a serving.
Financial terms of the deal weren’t disclosed. Credit Suisse Group AG brokered the acquisition, Boise, Idaho-based Albertsons said. The deal is slated to close by the end of the month.
Plated, once featured on the “Shark Tank” entrepreneur television show, has raised $95 million from venture capital firms including Greycroft Partners and Formation 8. The service distributes nationally and is considered one of the five largest meal-kit providers in the U.S. Company officials haven’t disclosed the number of customers.
How the 'grocerant' is disrupting the $500 billion food industry
Here's what you need to know about the rise of the 'grocerant', a hybrid of a grocery store and restaurant, which has grown 30% since 2008.
Also popular on WSJ.com: