By Kirsten Korosec.
Albertsons, the national grocery store chain, announced on Wednesday that it will buy Plated, a startup that makes meal kits. The acquisition is an attempt to appeal to a growing segment of Americans who are using meal delivery servicesas well as a maneuver to fend off Amazon-owned rival Whole Foods.
The terms of the Albertsons-Plated deal were not disclosed, but the Plated acquisition is expected to close later this month, Albertsons said in a statement.
Founded in 2012, Plated landed an investment deal after founders Nick Taranto and Josh Hix appeared on an episode of Shark Tank. Since then it has risen in the ranks of DIY meal-kit startups. Plated was ranked the best meal-kit service by Money magazine earlier this year.
While Plated’s popularity has grown, the deal with Albertsons gives it access to a new group of consumers. Albertsons has a national reach of more than 2,300 stores under more than a dozen different banners, including Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs. Albertsons says 35 million customers visit its stores every week.
Read more at Fortune.