Chad Bray reported yesterday at The New York Times Online that, “HelloFresh, the German meal delivery company, said on Tuesday that it planned to raise up to $352 million in an initial public offering in Frankfurt.
“The announcement came just months after a rival meal kit company, Blue Apron, was forced to slash the price for its own offering in June.
“Blue Apron cut its valuation a few days after Amazon unveiled a deal to buy Whole Foods Market for $13.4 billion, a transaction that could upend the retail industry. Blue Apron’s shares were trading on Tuesday at about half the value of its $10 offering price.”
The article noted that, “The offering by HelloFresh arrives about two years after the company shelved a planned I.P.O. in 2015.
“‘The public listing marks the next logical step to further expand our business, to secure our position as the leading global player and to pursue our long-term growth strategy,’ Dominik Richter, the HelloFresh co-founder and chief executive, said in a news release.”
Yesterday’s article pointed out that, “Founded in 2011, HelloFresh provides home delivery of fresh produce and ingredients to make home-cooked meals. The company operates in 10 countries, including the United States, and has more than 2,000 employees.
“The company is backed by Rocket Internet, the German technology company.
“HelloFresh said that it delivered 33.7 million meals to about 1.3 million customers in the second quarter.”
