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Blue Apron Climbs as Wonder Group Buys

Blue Apron (NASDAQ:APRN) shares jumped after word it had reached a deal to be acquired by Wonder Group for $13.00 per share.

The per-share price represents a 137% premium to the stock's Thursday closing price of $5.49. The deal is expected to close in the fourth quarter of 2023.

Blue Apron was the first U.S. meal-kit company to go public, with an IPO in June 2017, which valued the company at $1.89 billion.

Wonder’s acquisition of Blue Apron is expected to create a leading platform for mealtime, enhancing mealtime with choice, flexibility and convenience through two exceptional brands. The combination is expected to enhance both companies’ abilities to deliver chef-curated meals with high-quality ingredients to more customers across the country, solving for additional meal moments throughout the week. 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.

"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," said Blue Apron CEO Linda Findley.
“The Blue Apron brand and products that our customers know and love will stay the same, with more opportunity for product expansion in the future.:

Shares opened Friday up $7.35, or 134% to $12.84.