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Home / Business / Nestlé acquired Freshly, a health food startup, for up to $1.5B – TechCrunch

Nestlé acquired Freshly, a health food startup, for up to $1.5B – TechCrunch



Nestle The United States just announced that it has acquired Freshly for $1.5 billion, of which $950 million plus potential gains of up to $550 million based on future growth.

Founded in 2015, Freshly It is a start-up company based in New York City that provides healthy meals every week, which can then be prepared in a few minutes in the microwave or oven. So you can get the benefits of fresh, healthy meals, but-unlike a registered meal kit startup company-you don’t have to spend a lot of time cooking your own meals.

If anything, it sounds more attractive now, because many of us spend most of our time at home, trying our best to cook for ourselves. According to a press release from Nestlé, Freshly now provides more than 1

million meals a week in 48 states, with sales expected to be $430 million in 2020.

The startup has raised a total of $107 million in funding from investors including Highland Capital Partners, White Star Capital, Insight Venture Partners and Nestlé itself, who led the Series C funding round in 2017. Holds a percentage of Freshly’s shares and serves as “a strategic move to evaluate and test emerging markets.”

Steve Presley, chairman and CEO of Nestlé America, said in a statement: “Consumers are embracing e-commerce and dining at home. This is unprecedented.” “This is big. The evolution brought by the epidemic, but it can be sustained in the long-term. Freshly is an innovative, fast-growing food technology start-up company. Adding it to the product portfolio can enhance our ability to take advantage of the new realities of the US food market and further position Nestlé in the future Success.”

Freshly co-founder and CEO Michael Wystrach said in a note to customers that through this acquisition, his team plans to triple the number of menu items offered each week. In addition, he also suggested that things will not change much:

I can assure you that your meals, prices and subscriptions will remain the same, as you know. Freshs will continue to operate independently to achieve our core mission, which is to eliminate barriers to healthy eating through convenient, nutritious and delicious meal solutions, and backed by the power of Nestlé to provide you with faster and fresher food Delivery service. We will continue to maintain our own strict standards and maintain complete control over our products. Our meals will not change and we have no plans to change ingredients or integrate Nestlé products into Freshly meals, but we are excited about the potential opportunities in the future.


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