Nestlé Acquires Freshly For Up To $1.50 Bln

(RTTNews) - Nestlé said that it has acquired Freshly, a New York-based prepared meal delivery company that delivers throughout the United States. The deal values Freshly at $950 million, with potential earn-outs up to $550 million contingent to the successful growth of the business.

Founded in 2015, Freshly delivers a menu of fresh, chef-cooked meals to customers across the country.

Nestlé purchased an about 16% stake in Freshly in 2017. Freshly is now shipping more than one million meals per week to customers in 48 states. Freshly expects 2020 sales to be $430 million.