Meal-kit delivery company HelloFresh is acquiring competitor Factor75 for up to $277 million to expand its U.S. presence.
“Direct-to-consumer ready-to-eat meals are a nascent food vertical that we believe has the potential to grow into a multi-billion dollar category over time,” says HelloFresh US CEO Uwe Voss. “With Factor, HelloFresh, EveryPlate and Green Chef, we have four high-growth food brands in our Group, all benefiting from our strong growth engine, technology and supply chain infrastructure.”
Rothschild & Co. and Kirkland & Ellis are advising Factor. Sullivan & Cromwell is advising HelloFresh.