“A little birdie” has let loose that Blue Apron may soon be acquired by a grocery chain, and investors have responded by buying up the company's stock. Ostensibly bred from a single Tweet by hedge fund manager Will Meade, the news instigated as much as an 8.5 percent jump in Blue Apron’s stocks.
“A little birdie told me $APRN @blueapron will be acquired by a grocery store chain for $3 or better,” Meade wrote from his account, @realwillmeade.
Motley Fool reported that Meade held his tongue on further information about the "birdie," and there have yet to have been any additional reports on the matter from other media organizations. However, an acquisition seems to be the ultimate goal for the majority of meal kit companies in the market currently. As we previously reported, rival Plated was acquired by Albertsons in September of last year, and, just last month, meal kit provider HelloFresh scooped up Green Chef. Even Blue Apron has began shifting its business strategy, moving to be distributed through grocery stores for the first time.
The source notes that the general sentiment of the investor community is skepticism that Blue Apron will actually be bought out any time soon, as stocks would have likely shot up past the $3 mark if the rumor had legs. Deli Market News will continue to monitor the possible acquisition and share the latest as the story develops.