May 16, 2023 NEW YORK–(BUSINESS WIRE)–Blue Apron today announced plans for a long-term operations and logistics relationship with FreshRealm, a leading provider of fresh meals to top retailers nationwide, that would see the business shift to an asset-light model.
The companies have signed an non-binding Letter of Intent for up to 50 million dollars payable to Blue Apron when the milestones of transition, efficiency, and product success are achieved.
Blue Apron will continue to run its direct-to-consumer core business. This includes product creation, marketing, data collection, customer service, and consumer technologies. This relationship will not affect the company’s existing revenue streams.
Blue Apron will focus on growing its brand and providing the high-quality product that its customers expect by switching to this asset-light business model. The company plans to introduce new convenience products in the future for a larger consumer base.
Upon closing, and together with additional streamlining efforts Blue Apron plans to make, the transaction is expected to enhance the company’s balance sheet and drive…
