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Blue Apron's Shares Surge After Kroger Acquires Home Chef

Blue Apron's Shares Surge After Kroger Acquires Home Chef

Tuesday, May 29th, 2018

Kroger’s $200 million acquisition of meal-kit delivery company Home Chef last week may have an unexpected beneficiary; after news that the Cincinnati-based retail had jumped headlong into the meal kit space, competitor Blue Apron’s stock reportedly jumped more than five percent.

Blue Apron stock surged after Kroger's announced plans to acquire meal kit competitor Home Chef on May 23rd

According to a report from Business Insider, the surge was likely caused by speculation that a fellow retailer might take Kroger’s lead and snap up a potentially undervalued Blue Apron. A deal could wind up being a bargain for an enterprising brick and mortar chain—considering that Blue Apron’s shares have lost nearly 70 percent of their value since the company went public in June of last year.

Business Insider also cited a seven percent spike in Blue Apron’s stock price this February after an analyst from Gabelli & Company told CNBC that Walmart may be a “logical buyer” for the ailing fresh food provider.

A Blue Apron Meal Kit

Will speculation prove correct and investors reap rewards from Blue Apron’s strategic position in the fast-growing meal kit market? Deli Market News will continue to bring you the latest developments in an evolving retail landscape.

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