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Business
Westchester-Based Nestlé Acquires Prepared-Meal Delivery Service For $950M Westchester-Based Nestlé Acquires Prepared-Meal Delivery Service For $950M
Westchester-Based Nestlé Acquires Prepared-Meal Delivery Service For $950M Westchester-based Nestlé has pledged nearly a billion dollars to expand its packaged food delivery options for customers. Nestlé announced that it has closed a deal to acquire Freshly, a meal delivery service that operates across the country, for $950 million, and could pay an additional $550 million if Freshly hits certain growth targets and benchmarks. Founded in 2015, Freshly delivers a menu of fresh, chef-cooked meals to customers that “break down the barriers to healthy eating by delivering nutrition and convenience at scale,” the company announced. Freshly currently ships more than a…

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by Zak Failla
Business
Parent Company Of Balducci’s, Kings Food Markets Files For Bankruptcy Parent Company Of Balducci’s, Kings Food Markets Files For Bankruptcy
Parent Company Of Balducci’s, Kings Food Markets Files For Bankruptcy KB US Holdings, the parent company of Kings Food Markets and Balducci’s Food Lover’s Market, which has locations throughout the region, has filed for Chapter 11 bankruptcy amid the COVID-19 pandemic. The company announced this week that “it has accepted a stalking horse bid from TLI Bedrock to purchase the company for $75 million.” To facilitate the sale, KB and its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York. Kings currently operates 25 specialty supermarkets, including 23 in New Jerse…

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by Zak Failla
Lifestyle
Here Are Top Trends In Food-Service Retail Here Are Top Trends In Food-Service Retail
Here Are Top Trends In Food-Service Retail The retail food industry is constantly evolving as consumer trends continue to prioritize convenience and accessibility. From subscription meal plans to grab-and-go takeout, today’s food market truly has something for everyone. Check out some of what SupermarketNews says are the top trends in food-service retail: Meal subscription “kits”: You’ve probably heard of companies like Blue Apron and HelloFresh who are disrupting the typical routine of shopping for groceries and cooking a meal at home. These meal kits are designed to maximize convenience while helping the consumer improve their coo…

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by Valerie Musson