Albertsons Cos., a major grocer, announced that it is buying meal kit company Plated, reportedly marking the first acquisition of a prepared-meals company by a national grocery chain.
As per reports, the New York-based Plated, which does business as DineInFresh Inc., would be purchased for an estimated $175 to $200 million.
Plated, which was launched in 2012, will operate as a subsidiary of the second-largest grocery chain in the U.S. It is said that customers will be able to buy a rotating selection of meals.
In the $2.2 billion meal kit industry, Plated follows the same model as other meal kit brands like Blue Apron and HelloFresh. Their subscribers receive a box containing recipes and pre-portioned ingredients delivered to their home.
With this acquisition, Alberstons is expected to offer Plated meal kits at its nearly 2,300 U.S. locations, also including the Safeway chain, in addition to the usual subscription model.
Plated founder Josh Hix reportedly told the Wall Street Journal, that in-store placement means "we no longer have to play the game of just spending money in the media to go out and reach folks. It uniquely positions us in the market."
With the deal, Albertsons aims to attract younger customers and stay relevant in the wake of the Amazon-Whole Foods merger, Bloomberg noted.
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