Campbell Soup Invests $10 Million In Startup Meal Kit Company, Chef'd
Campbell Soup is stepping into the meal kit delivery industry with its recent $10 million investment in startup company Chef'd.
The Campbell Soup Company made the strategic move to invest directly in Chef'd after the company's internal estimates predicted that e-commerce sales of food and drinks will reach $66 billion by 2021, Fortune reported.
"E-commerce will transform the food industry in similar ways to how it transformed entertainment and apparel. It is a game changer for consumers, food makers and retailers alike," Denise Morrison, president and chief executive officer at Campbell Soup Company, said in a statement.
"The movement is irrevocable and irreversible. In the future, shopping for and preparing meals will be flexible, fully automated and even anticipatory. Chef'd will help Campbell connect with our consumers where they are today and, more importantly, where they're headed."
The online grocery store FreshDirect also invested in the company.