Kroger Gobbles Up Home Chef Meal-Kit Business

Noon Business Hour
May 24, 2018 - 5:08 pm

Home Chef

Categories: 

CHICAGO (WBBM NEWSRADIO) -- Chicago-based meal kit company Home Chef, launched by a local entrepreneur in 2013, has been acquired by grocery giant Kroger in a deal worth about $700 million.   

"The meal-kit phenomenon has kind of come out of nowhere over the past 5 or 6 years. It's today about a $5 billion industry,” Crain's Chicago Business reporter Brigid Sweeney told the Noon Business Hour.

“There's a ton of players in the space, it is very competitive, and a bunch of early leaders in the space are losing customers and/or going out of business.”

Home Chef, however, has managed to both grow and increase its market-share,” Sweeney said.

The company's CEO told her that all 1,000 of the Chicago-based Home Chef employees will keep their positions.