Blue Apron Holdings Inc. (NYSE:APRN) has announced a $13 per share takeover by Wonder Group, sending shares of the meal-kit pioneer 134% higher to $12.83 in Friday premarket trading.
Blue Apron said the offer represents an equity value of $103 million for the company and comes at a 137% premium to its closing price on September 28, 2023, and a 77% premium to the 30-day volume weighted average price of its Class A common stock.
The company also received other proposals as part of a strategic review process as it shifted to an asset-light business as a result of the sale of its operational infrastructure and strategic partnership with FreshRealm, which will continue.
It said the merger is expected to enhance both companies’ abilities to deliver chef-curated meals with high-quality ingredients to more customers across the country.
Following the close of this transaction, Wonder plans to continue Blue Apron’s current operations serving customers nationwide under the Blue Apron brand, with expected new synergies between consumer-facing apps and delivery logistics, it added.
“By joining forces with Wonder, we continue to realize our vision of Better Living Through Better Food, and support how families and loved ones come together over food,” Blue Apron president CEO Linda Findley commented.
“The transaction delivers immediate and certain value for Blue Apron stockholders at a significant premium over recent trading prices.”
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