BOISE, ID and NEW YORK, NY – Albertsons is making its way into the increasingly sought-after meal kit market; the retailer announced this week that it has made arrangements to acquire meal kit service Plated. According to a company press release, the move will advance a shared strategy to reinvent the way consumers discover, purchase, and experience food.
“Today’s consumer is looking for a variety of personalized shopping alternatives, and this transaction is the latest example of Albertsons meeting our customers wherever and however they like to shop,” said Bob Miller, Chairman and CEO of Albertsons Companies. “With Plated, we’ve found a partner who shares our commitment to delicious, affordable food; superior technology and innovation; and world class customer service. Plated knows its customers better than anyone, and together we will accelerate our ability to serve them. We are excited to offer our customers more online options and fresh, quality ingredients, along with distinctive recipes at their doorstep or through traditional shopping trips.”
By acquiring Plated, Albertsons is adding new technology and data capabilities. The company noted that the move will also be a strategic step as it continues to focus on innovation, personalization, and customization. Together, Albertsons and Plated—now a wholly-owned subsidiary of Albertsons—hope to leverage their diverse and complementary strengths to serve customers in a way that appeals to the evolving lifestyles and food preferences of people across the country.
“Joining Albertsons Companies presents an amazing opportunity to accelerate our positive impact on the future of food in America by making fresh, delicious food more widely available,” noted Josh Hix, Co-Founder and CEO of Plated. “Albertsons is at the forefront of the changing food and grocery landscape with their customer obsession, their large national store footprint, and their exciting plans for the future of the grocery store. We’re excited to be partnering with them to shepherd our growth while preserving the unique strengths that define Plated today.”
Through the merger, Plated hopes to benefit from Albertsons' resources and national reach, leveraging Albertsons' more than 2,300 stores to scale its business and improve its customer experience with new offerings. Plated’s new ownership is expected to allow the service to expand beyond its existing subscription model by offering Plated meal kits at many Albertsons store locations, across the retailer’s digital channels, and through a variety of distribution options—thus providing the flexibility, convenience, and access to high-quality, fresh ingredients, and chef-designed recipes that customers are looking for.
“There’s tremendous upside for Plated’s customers whose experience with our brand will only get better,” continued Hix. “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–all of which we are now singularly positioned to deliver in collaboration with Albertsons.”
Plated’s marketing and acquisition efforts will also benefit by gaining exposure to Albertson Cos.’ 35 million customers per week. Under the terms of the agreement, the meal kit provider will continue to operate as a distinct consumer brand with its own leadership team led by Hix. The company will continue to be headquartered in New York City, with fulfillment centers across the country.
Will this acquisition give Albertsons a competitive edge as competition across the grocery landscape continues to escalate? AndNowUKnow will continue to report.
