Nestlé: acquires Freshly

(CercleFinance.com) - On Friday Nestlé announced the acquisition of Freshly, a pioneer in the delivery of healthy prepared meals in the United States.


Under the agreement, Freshly was valued at 950 million dollars, with potential gains of up to 550 million dollars, depending on the company's successful growth.

In 2017, Nestlé had bought an initial stake of approximately 16% in Freshly to assess and test the market. To date, Freshly ships more than one million meals per week to customers in 48 States. It forecasts FY 2020 sales of 430 million dollars.

"Consumers are embracing ecommerce and eating at home like never before. It's an evolution brought on by the pandemic but taking hold for the long term," said Steve Presley, Nestlé USA Chairman and CEO.


Copyright (c) 2020 CercleFinance.com. All rights reserved.