Albertsons Acquires Plated Meal-Kit Service
Originally published by Progressive Grocer.
After reports that it was in talks to acquire the meal-kit service, Albertsons Cos. has announced its acquisition of Plated, advancing a shared strategy to reinvent the way consumers discover, purchase and experience food.
Plated will operate as a wholly owned subsidiary of Albertsons Cos. upon completion of the transaction, which is expected to occur later this month.
“As meal kits continue to gain traction in the marketplace, we believe the winning formula combines choice, flexibility, culinary expertise and the ability for customers to buy across channels — all of which we are now singularly positioned to deliver in collaboration with Albertsons,” said Josh Hix, Plated co-founder and chief executive officer, who will continue to lead the business, in a media release.
In joining with Plated, Albertsons adds a meal-kit company with leading technology and data capabilities, a strategic step for the grocer as it continues to focus on innovation, personalization and customization. Together, they will leverage their diverse and complementary strengths to serve consumers in a way that appeals to the evolving lifestyles and food preferences of people 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.
Recent reports speculated about the potential acquisition of certain meal-kit companies by grocers, including Plated by Albertsons. Amazon also has been diving deeper into meal kits, an area it likely will expand into brick-and-mortar stores via its recent purchase of Whole Foods Market.
Plated will benefit from Albertsons’ resources and national reach — more than 2,300 stores — to scale its business and improve its customer experience with new offerings. Albertsons will enable Plated to expand beyond its existing subscription model by offering meal kits at many stores, across its digital channels, and through a variety of distribution options. Plated’s marketing and acquisition efforts will also benefit by gaining exposure to the retailer's 35 million weekly shoppers.
“Today’s consumer is looking for a variety of personalized shopping alternatives, and this transaction is the latest example of Albertsons meeting our customers wherever and however they like to shop," said Albertsons ceo Bob Miller in the release. "Plated knows its customers better than anyone, and together we will accelerate our ability to serve them. We are excited to offer our customers more online options and fresh, quality ingredients, along with distinctive recipes at their doorstep or through traditional shopping trips.”