Nestlé is investing $100 million in Wonder Group, a startup company known for partnering with restaurants across the country to allow customers to purchase food from multiple dining establishments in one order, delivered to their homes. As a result of the strategic partnership, Wonder Group will be expanding its business model, working in conjunction with Nestlé to sell equipment and food to a range of businesses, such as sports venues, hotels, and hospitals.
The two companies have confirmed their deal but have yet to reveal any further details on the transaction.
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Earlier this year, Wonder Group entered into a definitive merger agreement to acquire meal-kit company Blue Apron in a $103 million all-stock deal. The transaction is expected to close before year’s end, 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 will not be 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.
At the time of that transaction, Wonder Group Founder and Chief Executive Officer Marc Lore stated, “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. 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.”