Albertsons to serve up dynamic consumer offer with Plated acquisition
BOISE, Idaho — The acquisiton of Plated by Albertsons on Wednesday reverberated across retail as Albertsons successfully incorporated two key customer-capture elements into their business model – a personalized product selection coupled with a subscription option – and at the same time helped accelerate adoption of a trending meal kit service offering.
Among the key projected outcomes of this deal is for Plated to become the first omnichannel meal kit offering with national scale.
“With Plated, we’ve found a partner who shares our commitment to delicious, affordable food; superior technology and innovation; and world class customer service," stated Bob Miller, Albertsons chairman and CEO. "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.”
“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," commented Josh Hix, CEO Plated. "Albertsons Cos. 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," he said. "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 Cos.”
Plated will operate as a wholly-owned subsidiary of Albertsons, though the acquired company 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, with fulfillment centers across the country.
Credit Suisse served as financial advisor to Albertsons.