Plated, the meal kit company, founded in 2012 by Nick Taranto and Josh Hix has been acquired by super market behemoth Albertsons. Terms of the deal were not disclosed. Hix remarked, “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. 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.”
The acquisition gives Plated the opportunity to expand nationally when the economics and competition in the space are getting tougher by the day. Plated competitor, Blue Apron went public earlier in the year and is trading slightly off an all time low and well below its IPO price. According to the company, Plated is to still operate as a distinct brand under the Albertsons umbrella with Hix at the helm.
Prior to the acquisition, Plated, a Techstars graduate, had raised $56.4M in funding over eight rounds. Backers of the company include Alain Bankier, Andrew McCollum, ff Venture Capital, Formation 8, Founder Collective, Great Oaks Venture Capital, Greycroft Partners, Kevin Colleran, Kite Ventures, Lerer Hippeau Ventures, O’Leary Ventures, Paige Craig, Right Side Capital Management, Slow Ventures, Solon Mack Capital, Techstars, and Valley Oak Investments.