Kroger, others rumored to buy Boxed
The Kroger Co., Costco Wholesale, Aldi and Target have all been listed as possible buyers of Boxed, the New York-based online wholesale retailer (Boxed.com) that offers direct delivery of bulk-sized packages via the Boxed app or the website.
It will take between $325 million and $500 million to acquire Boxed, according to reports.
Boxed began in 2013 and took off as a digital alternative to warehouse clubs such as Costco, Sam’s Club and BJ’s Wholesale Club, according to a report in Fortune.
Boxed said it aims to make shopping for bulk goods easy, convenient and fun. Boxed offers several private-branded products under the Prince & Spring label. Boxed’s private brand currently accounts for about 20 percent of its about $100 million in sales. According to Fortune, Boxed’s average customer purchases between seven and 10 items per order, higher than typical for e-commerce. Its business-facing unit, which accounts for about 20 percent of sales, has grown at a triple-digit rate.