Albertsons is about to enter the meal kit delivery business with the acquisition of Plated, which will operate as a wholly-owned subsidiary of the grocery retailer. The deal is expected to close by the end of September.
According to the company, the acquisition of Plated will allow the two companies to leverage their individual strengths to serve customers in a way that appeals to the evolving lifestyles and food preferences of consumers across the country. Among the key projected outcomes of the deal is for Plated to become the first omnichannel meal kit offering with national scale.
“Today’s consumer is looking for a variety of personalized shopping alternatives, and this transaction is the latest example of Albertsons Cos. meeting our customers wherever and however they like to shop,” said Bob Miller, chairman and CEO of Albertsons Companies.
Albertsons officials said that the acquisition will also allow Plated to expand beyond its existing subscription model by offering Plated meal kits at many store locations, across its digital channels, and through a variety of distribution options.
Plated will continue to operate as a distinct brand with its own leadership team led by co-founder and CEO Josh Hix. The company will continue to be headquartered in New York City, with fulfillment centers across the country.