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Kings Soopers parent buys meal-kit company in deal worth up to $700M

Kroger has agreed to buy Chicago-based Home Chef in a deal worth as much as $700 million.
Credit: ARRAY
Home Chef generated 150 percent sales growth last year to $250 million.

Denver Business Journal — Kroger Co. has reached a deal to buy the U.S.’s largest private meal kit company in a move to take advantage of a fast-growing consumer trend.

Cincinnati-based Kroger (NYSE: KR), the nation’s largest operator of traditional supermarkets, agreed to buy Chicago-based Home Chef in a deal worth as much as $700 million. The deal is expected to be finalized this year.

The acquisition comes barely a year after Kroger launched its own meal-kit products under the Prep + Pared name last May.

Home Chef generated 150 percent sales growth last year to $250 million, largely through home delivery. It’s been profitable the last two quarters. Its three distribution centers reach 98 percent of U.S. households in a two-day delivery time frame.

Read more at the Denver Business Journal: https://bit.ly/2IJ0zxw

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