Wonder completes acquisition of Blue Apron for $103M

Virtual food hall concept Wonder on Monday completed its acquisition of meal kit company Blue Apron for $103 million, or $13 a share.

The deal takes the struggling Blue Apron private and gives Wonder a new revenue channel as it pursues its goal of becoming a “super app for mealtime.” 

The announcement included some new details about how Wonder will fold meal kits into its operations. Starting Monday, Blue Apron customers in Wonder’s delivery radius in New York and New Jersey will start getting their boxes delivered by Wonder employees. Customers in the area will also be able to order Blue Apron meal kits and heat-and-eat meals in the Wonder app for delivery and pickup. 

The initial menu features Blue Apron favorites including shawarma chicken and couscous bowls, sheet pan pesto salmon and gnocchi mac and cheese. The microwaveable heat-and-eat options include lemon chicken, cheesy Mexican chicken and rice, and cheesy truffle cavatappi. Wonder said it plans to add more recipes in the future. 

Service and menu options for Blue Apron customers outside of Wonder’s orbit will continue as normal, the company said. 

[Read our in-depth report on Wonder: Marc Lore's Wonder is reinventing the meal.]

Wonder is a delivery-focused food hall concept founded by entrepreneur Marc Lore. It has five locations in New York and New Jersey and plans to reach 10 by the end of the year. Each location houses as many as 20 different restaurant concepts, and customers can combine food from all of them in one order. It has raised nearly $1 billion to date, including a recent $100 million infusion from Nestle. 

Related:Blue Apron acquired by virtual food hall chain Wonder for $103M

Lore envisions Wonder as more than just a restaurant but an all-around food provider for the masses. His goal is to eventually open as many as 7,000 locations across the U.S.

“Our mission at Wonder is to make great food more accessible, and the integration of Blue Apron onto our Wonder platform provides a major opportunity to double-down on that promise to our customers,” Lore said in a statement. 

Blue Apron pioneered meal kit delivery but has struggled since going public in 2017. Its decline has included layoffs and shrinking customer and order counts, and its share price has lost 99% of its IPO value.

This article originally appeared in WGB sister publication Restaurant Business Online.