Move over Blue Apron, one of the meal kit company’s biggest competitors Plated is now making headlines.
One of the largest grocery store companies in the nation, Albertsons has announced that it is buying Plated for an undisclosed price.
While the meal kit industry as a whole has seen some impressive growth that is expected to continue, Blue Apron’s recent IPO has been perceived as “lukewarm.”
Plated, along with Hello Fresh, are the other meal kit companies gaining traction in the market.
Even Kraft is jumping on the meal kit bandwagon. The company has just partnered with Oprah on a meal program that will be available soon in brick and mortar retail stores.
But after Amazon’s acquisition of Whole Foods, the pressure on food companies to offer consumers more on-demand food options has drastically increased.
“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 in a press release. “With Plated, we’ve found a partner who shares our commitment to delicious, affordable food; superior technology and innovation; and world class customer service. 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.”
So what sets Plated apart from the many other meal kit options out there?
Although it’s pricing is on the higher side compared to the company’s competitors, Plated prides itself on providing flexible programs and recipes with the highest quality of ingredients.
“Plated caters to ‘evolved eaters’ who care about how they’re eating and where their food is sourced. We’re building a product for those who are conscientious about food quality and sustainability — this involves everything from our sourcing decisions, packaging, and recipes,” said Jacqueline Wasilczyk, the senior content marketing manager at Plated to Foodable early last year.
So what does the future hold for meal kit companies? Will they all eventually be acquired by grocery chains?