Blue Apron (NASDAQ:APRN) shares are up nearly 132% in the early session today after the meal kit provider agreed to be acquired by Wonder Group for $13 per share.
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Impressively, the purchase price points to a 137% premium over APRN’s closing price on September 28. Wonder, a leader in the food industry, is creating a mealtime super-app. The transaction is expected to boost the abilities of both companies to provide chef-curated meals across the U.S.
Following the closing of the transaction, the firm will continue to operate under the Blue Apron brand. APRN’s combination with Wonder comes after the company pivoted to an asset-light model following the sale of its operational infrastructure and its collaboration with FreshRealm.
The transaction is anticipated to close in the fourth quarter of this year, and the company’s Board has unanimously approved the deal.
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Today’s price gain comes after a nearly 92% slide in APRN shares over the past year.
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