This Meal-Kit Service Found Its Future In Grocery Stores

This Meal-Kit Service Found Its Future In Grocery Stores
Delivery & Logistics

Plated, which was recently acquired by Albertsons Companies, thinks standalone meal-kit startups will be out of business by 2020

Andrew Conrad
  • 2 november 2017

Supermarket giant Albertsons Companies, which owns chains such as Acme, Shaw’s and Safeway and more than 2,300 grocery stores total across the U.S., recently purchased meal delivery service Plated for a reported $200 million.

“By the end of 2020, any standalone meal-kit company will be dead, and we’re going to put them out of business,” Plated co-founder Nick Taranto said in a speech at the Fast Company Innovation Festival in New York City.

For Albertsons, the acquisition represented an opportunity to “focus on innovation, personalization and customization,” according to a press release. Plated kits could soon appear on the shelves at Albertons chain stores or be available for in-store pickup.

The deal gives Plated access to Albertsons base of a reported 35 million customers across 35 states per week. It’s a major breakthrough for a company that got its first national exposure as a funding pitch on ABC’s “Shark Tank” back in 2014 (they accepted $500,000 from Mark Cuban in exchange for a 5.56% stake and advisory shares).

“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,” Plated cofounder and CEO Josh Hix said in a release.

Plated, which is based in New York City, will continue to operate as its own entity under the leadership of Hix. This move puts Plated and Albertsons in an advantageous position, even as Amazon prepares to follow up its acquisition of Whole Foods by rolling out its own meal kit delivery service.

Albertsons | Plated

Lead Image: Plated via Facebook

+Earn media / increase exposure
+meal kit
+Seamless Delivery

Learn About Our Membership Services

Need Research Help?
As a member you can ask us any research questions and get complimentary research assistance with a 4-day turnaround. Reports inclde stats, quotes, and best-inclass examples on research topics.
Remain Informed & Strategic
We publish several trends reports each month. By becoming a member you will have access to over 100 existing reports, plus a growing catalog of deep topical analysis and debrief-style reports so you always remain in the know.
See Trends Come To Life
Meet your peers and immerse yourself in monthly trend and innovation webinars and discounted conferences.
No search results found.