Nestlé acquires healthy meal startup Freshly for up to $1.5B – TechCrunch
Nestlé USA just announced that it has acquired Freshly for $1.5 billion — $950 million plus potential earnouts of up to $550 million based on future growth. Founded in 2015, Freshly is a New York City-based startup that offers healthy meals delivered to your home in weekly orders, then prepared in a few minutes via microwave or oven, So you get the benefit of fresh, healthy meals but — unlike signing up with a meal kit startup — you don’t have to spend a lot of time cooking them yourself. According to Nestlé’s press release, Freshly is now shipping more than 1 million meals per week across 48 states, with forecasted sales of $430 million for 2020. The startup raised a total of $107 million from investors including Highland Capital Partners, White Star Capital, Insight Venture Partners and Nestlé itself, which led the Series C in 2017. “It’s an evolution brought on by the pandemic but taking hold for the long term.