Boise, Idaho-based Albertsons Cos., one of the nation’s largest grocery retailers, has acquired the meal kit service Plated. Albertsons said in a press release that the move advances a shared strategy to reinvent the way consumers discover, purchase and experience food.
Plated will operate as a wholly-owned subsidiary of Albertsons Cos. The transaction is expected to close later this month pending customary approvals.
In teaming up with Plated, Albertsons Cos. said it adds a meal kit company with leading technology and data capabilities, a strategic step for the company as it continues to focus on innovation, personalization and customization. Together, Albertsons Cos. and Plated will leverage their diverse and complementary strengths to serve customers in a way that appeals to the evolving lifestyles and food preferences of people across the country. Among the key projected outcomes of this deal is for Plated to become the first omnichannel meal kit offering with national scale.
“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 Cos. “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.”
Albertson’s said Plated will benefit from the retailer’s resources and national reach with over 2,300 stores to scale its business and improve its customer experience with new offerings. Albertsons Cos. said it will enable Plated to expand beyond its existing subscription model by offering Plated meal kits at many store locations, across its digital channels, and through a variety of distribution options to make it easy to create meals at home by providing the flexibility, convenience and access to high-quality, fresh ingredients coupled with chef-designed recipes that customers are looking for. Plated’s marketing and acquisition efforts will also benefit by gaining exposure to Albertson Cos.’ 35 million customers per week.
“Joining Albertsons Cos. presents an amazing opportunity to accelerate our positive impact on the future of food in America by making fresh, delicious food more widely available,” said Josh Hix, co-founder and CEO of Plated. “Albertsons Cos. is at the forefront of the changing food and grocery landscape with its customer obsession, its large national store footprint and its exciting plans for the future of the grocery store. We're excited to be partnering with them to shepherd our growth while preserving the unique strengths that define Plated today. … 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 Cos.”
Plated will continue to operate as a consumer brand with its own leadership team led by Hix. The company will continue to be headquartered in New York with fulfillment centers across the country.