Albertsons Companies Acquires Plated to Transform the Food Experience for Consumers

BOISE, Idaho and NEW YORK, Sept. 20, 2017 /PRNewswire/ -- Albertsons Companies, one of the nation's largest grocery retailers, today announced the acquisition of Plated, a premier meal kit service. This move advances a shared strategy to reinvent the way consumers discover, purchase, and experience food. Plated will operate as a wholly-owned subsidiary of Albertsons Cos. The transaction is expected to close later this month pending customary approvals.

In teaming up with Plated, Albertsons Cos. adds a meal kit company with leading technology and data capabilities, a strategic step for the company as it continues to focus on innovation, personalization, and customization. Together, Albertsons Cos. and Plated will leverage their diverse and complementary strengths to serve customers in a way that appeals to the evolving lifestyles and food preferences of people across the country. Among the key projected outcomes of this deal is for Plated to become the first omnichannel meal kit offering with national scale.

"Today's consumer is looking for a variety of personalized shopping alternatives, and this transaction is the latest example of Albertsons Cos. meeting our customers wherever and however they like to shop," said Bob Miller, Chairman and CEO of Albertsons Companies. "With Plated, we've found a partner who shares our commitment to delicious, affordable food; superior technology and innovation; and world class customer service. Plated knows its customers better than anyone, and together we will accelerate our ability to serve them.  We are excited to offer our customers more online options and fresh, quality ingredients along with distinctive recipes at their doorstep or through traditional shopping trips."

Plated will benefit from Albertsons Cos.' resources and national reach with over 2,300 stores to scale its business and improve its customer experience with new offerings. Albertsons Cos. will enable Plated to expand beyond its existing subscription model by offering Plated meal kits at many store locations, across its digital channels, and through a variety of distribution options to make it easy to create delicious meals at home by providing the flexibility, convenience, and access to high-quality, fresh ingredients coupled with chef-designed recipes that customers are looking for. Plated's marketing and acquisition efforts will also benefit by gaining exposure to Albertsons Cos.' 35 million customers per week.

Josh Hix, Co-founder and CEO of Plated, said, "Joining Albertsons Companies presents an amazing opportunity to accelerate our positive impact on the future of food in America by making fresh, delicious food more widely available. Albertsons Cos. is at the forefront of the changing food and grocery landscape with their customer obsession, their large national store footprint, and their exciting plans for the future of the grocery store. We're excited to be partnering with them to shepherd our growth while preserving the unique strengths that define Plated today. There's tremendous upside for Plated's customers whose experience with our brand will only get better. As meal kits continue to gain traction in the marketplace, we believe the winning formula combines choice, flexibility, culinary expertise, and the ability for customers to buy across channels--all of which we are now singularly positioned to deliver in collaboration with Albertsons Cos."

Plated will continue to operate as a distinct consumer brand with its own leadership team led by Co-founder and CEO Josh Hix. The company will continue to be headquartered in New York City, with fulfillment centers across the country.

Credit Suisse served as financial advisor to Albertsons Cos.

About Albertsons Companies
Albertsons Companies is one of the largest food and drug retailers in the United States, with both a strong local presence and national scale. We operate stores across 35 states and the District of Columbia under 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs. Albertsons Companies is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood.

About Plated
Plated launched in 2012 with a mission to change the way America eats by leveraging data and technology to disrupt the traditional food supply chain and make it easy for people to cook delicious meals at home. Founded by Josh Hix and Nick Taranto, the company has rapidly scaled and evolved with a customer-centric model focusing on choice and flexibility to provide a personalized dinner experience. At the same time, the brand has an unwavering commitment to creating delicious recipes that appeal to people who are passionate about food and seek discovery in the kitchen. The Culinary Team is led by Le Cordon Bleu-trained chef Elana Karp, the company's Chief Culinary Officer and Culinary Co-founder. Learn more at Plated.com.

Media Contact
For Albertsons Companies
Christine Wilcox
christine.wilcox@albertsons.com

For Plated
Liz Marsh
liz.marsh@plated.com

Important Notice Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. Statements that are not historical facts, including statements about our perspectives and expectations, are forward looking statements. The words "expect," "believe," "estimate," "intend," "plan" and similar expressions, when related to the Company and its subsidiaries, indicate forward-looking statements. These statements reflect the current view of management and are subject to various risks and uncertainties. These statements are based on various assumptions and factors, including general economic, market, industry and operational factors. Any changes to these assumptions or factors may lead to practical results different from current expectations. Excessive reliance should not be placed on those statements. Forward-looking statements relate only to the date they were made, and the Company and its subsidiaries undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made.

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SOURCE Albertsons Companies