Blue Apron to be Acquired by Food Delivery Startup Wonder Group for $103 Million

Blue Apron said it would be acquired by privately held food delivery company Wonder Group in an all-stock deal for $103 million amid tough competition and low demand for its meal-kits.

Its stockholders will receive $13 per share, a 137% premium to the stock’s Thursday closing price of $5.49. Its shares more than doubled in premarket trading on Friday.

Blue Apron was the first U.S. meal-kit company to go public in June 2017, with a valuation of $1.89 billion.

Read the source article at Reuters