United Investment Limited - Blue Apron's shares surge after Wonder Group acquires the meal kit

Blue Apron Holdings (APRN) stock more than quadrupled in early Friday trade after Wonder Group agreed to buy the meal kit supplier for $103 million.
CENTRAL, Hong Kong - Oct. 12, 2023 - PRLog -- Wonder Group will pay Blue Apron shareholders $13 per share under the all-cash transaction, a 137% premium to Blue Apron's closing price on Thursday. Wonder, a privately held company, provides home delivery of meals made by celebrity chefs such as Bobby Flay and Michael Symon, as well as pick up and in-store dining at its locations.

Marc Lore, Founder and CEO of Wonder Group, stated that acquiring Blue Apron will advance the strategic position of the company, provide immediate synergies, and increase the ways customers may experience Wonder. Lore is an entrepreneur and former CEO of Walmart (WMT) eCommerce U.S. He also owns the Minnesota Timberwolves of the National Basketball Association.

The combination, according to Blue Apron, is "expected to enhance both companies' abilities to deliver chef-curated meals with high-quality ingredients to more customers across the country." Wonder expects to maintain Blue Apron's present operations, serving customers under the Blue Apron moniker.

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