Big Law

Nestle Acquires Meal Kit Startup Freshly for $1.5B

Nestlé  USA just announced that it has acquired Freshly for $1.5 billion — $950 million plus potential earnouts of up to $550 million based on future growth.

Founded in 2015, Freshly  is a New York City-based startup that offers healthy meals delivered to your home in weekly orders, which can then be prepared in a few minutes in your microwave or oven. So you get the benefit of fresh, healthy meals but — unlike signing up with a meal kit startup — you don’t have to spend a lot of time cooking them yourself.

If anything, this sounds even more appealing now, as so many of us are spending most of our time at home, doing our best to cook for ourselves. According to Nestlé’s press release, Freshly is now shipping more than 1 million meals per week across 48 states, with forecasted sales of $430 million for 2020.

Read the source article at techcrunch.com

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