In Ohio, the Kroger Co. announced a merger agreement with Home Chef that will significantly accelerate the availability of meal kits and position the combined company to lead the way in revolutionizing how families shop for, prep, and cook their meals.
Home Chef features delicious and approachable meals that fit every taste preference and easy-to-follow recipes for every experience level. They currently lead the industry with the most variety among the leading meal kit companies and have gone beyond the one-size-fits-all model to bring new innovations like 5 Minute Lunches, Flexible Serving options, and new, easy-to-prepare meals that require minimal prep.
The pending merger comes on the heels of Home Chef’s 150 percent growth in 2017, $250 million in revenue and two profitable quarters. The initial transaction price is $200 million and the future earnout payments of up to $500 million over five years are contingent on achieving certain milestones.