HelloFresh acquires American peer for international growth | NOW

The German meal box deliverer HelloFresh wants to grow further in the American market and therefore takes over industry peer Factor75, which is active there. The acquisition price amounts to a maximum of 277 million dollars, converted to about 233 million euros. Factor75 specializes in home delivery of freshly prepared meals.

HelloFresh will initially pay $ 177 million. A further $ 100 million can be added if Factor75 meets certain targets. Factor75 is counting on a turnover of approximately $ 100 million this year.

The food delivery market in the United States is currently in full swing, driven by high demand following the corona crisis.

Earlier this year, the British-Dutch Just Eat Takeaway signed a $ 7.3 billion deal to acquire the American Grubhub, while taxi company Uber Technologies acquires meal delivery service Postmates for $ 2.7 billion. Swiss Nestlé buys the freshly made meal delivery driver Freshly, initially paying $ 950 million.

HelloFresh is currently growing very fast due to the corona crisis. At the beginning of this month, the company reported that the number of ordered meal boxes in the third quarter grew by 114 percent compared to the same period last year. The number increased from over 9 million to 19.5 million.

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