Meal-kit company Blue Apron has entered into a definitive merger agreement to be acquired by Wonder Group in a $103 million all-stock deal. The transaction is expected to close in the fourth quarter of this year, subject to customary closing conditions, including the tender of a majority of the outstanding shares of the company’s Class A common stock. The closing is not subject to any financing conditions or regulatory approvals.
Following the transaction close, Wonder plans to continue Blue Apron’s current operations under the Blue Apron brand. Blue Apron stockholders will receive $13.00 in cash per share of Class A common stock through a tender offer.
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“Wonder and Blue Apron deliver high-quality, chef-curated meals, making this a great match to offer more incredible mealtime experiences,” says Blue Apron President and Chief Executive Officer Linda Findley. “Further, the transaction delivers immediate and certain value for Blue Apron stockholders at a significant premium over recent trading prices.”
“Wonder is creating the mealtime super app, serving a broad range of occasions that feature cuisines from some of the world’s best chefs and restaurants while leveraging our culinary engineering and vertically integrated model,” adds Wonder Group Founder and Chief Executive Officer Marc Lore. “When the opportunity presented itself to unite with Blue Apron, pioneers in the meal kit industry, we knew it would accelerate our strategic position, [and] create immediate opportunities for synergy.”
Wonder Group partners with restaurants across the country to allow customers to order food from multiple dining establishments in one order, delivered to their homes.