Kroger and Home Chef, a private meal kit company, have finalized an acquisition-merger that will accelerate the availability of meal kits at the supermarket chain.
“We’re excited to welcome Home Chef to the Kroger family of companies,” said Rodney McMullen, Kroger’s chairman and CEO. “The merging of our two innovative, data-driven, and customer-focused cultures will allow us to accelerate our reach.”
As previously announced, the initial transaction price was $200 million and future earnout payments of up to $500 million over five years are contingent on achieving certain milestones, including growth of in-store and online meal kit sales.
Pat Vihtelic, Home Chef’s founder and CEO, added, “We look forward to bringing Home Chef’s simple, convenient and enjoyable meal solutions to Kroger locations.”