![]() ^ "Nestlé acquires healthy meal startup Freshly for up to $1.5B".^ "I Tried Freshly, Which is Now Producing 600,000 Meals Per Week and Expanding into Snacks".^ "Special Delivery: Freshly Aims To Supply Boom In Prepared Meals".^ "Meal Kit Startup Freshly Has A Winning Recipe".^ "Meal service Freshly to open a facility in Howard County".^ "Food Still Hot: Why Investors Bet $21 Million On Freshly's Three-Minute Meals".They allowed orders to be placed until January 17th, 2023 with the final orders being shipped until January 21, 2023. This is a difficult time as we say goodbye to our incredible community.” This was also posted on their website. On December 23, 2022, Freshly sent out an email to its subscribers stating, “ It is with a heavy heart that we are announcing that the Freshly meal delivery service will be winding down in early 2023. In 2021, Freshly opened a 134,000 square-foot production facility in Austell, Georgia. In December 2020 the company launched FreshlyFit to cater to active lifestyles and low-carb, high-protein diets. In 2020, Freshly expanded to business-to-business food delivery, including to hospitals and essential service workers. Īmid the COVID-19 pandemic, Freshly donated prepared foods worth the equivalent of $500,000 to Meals on Wheels and reported sales up 50% year over year. In 2017, Nestle led a $77 million funding round that added its USA's Food Division President to Freshly's board and an East Coast kitchen and distribution center built in 2018. įollowing a $7 million Series A round, in 2016, the company raised $21 million in a funding round led by Insight Venture Partners. Co-founder Carter Comstock, the son of Frank Comstock, joined Freshly in 2012. His family operated a restaurant, The Steak Out in Sonoita, Arizona and a family friend, emergency room doctor Frank Comstock helped prepare nutritious meals. ĬEO Michael Wystrach sought to lose weight after he saw a decline in his overall health following years working in investment banking. Freshly also donates excess ingredients and meals to local food banks as a part of its partnership with Feeding America. The company delivers all meals for a given week and are heated by microwave or oven without preparation. ![]() Influenced by 4-H program initiatives, Wystrach adopted minimal food waste and sustainability into Freshly's menus. ![]() ![]() History įreshly was founded by Michael Wystrach and Carter Comstock in 2012. ![]() In 2020, Freshly was acquired by Nestlé for US$1.5 billion. Founded by Michael Wystrach and Carter Comstock, the company ships one million meals per week and delivers to the contiguous United States. Schneider said Kettle and Freshly have in common a focus on freshness, and will direct efforts at foodservice operators who don’t have the labor to offer such fresh meals.įinancial details were not disclosed, but Catterton will own 59% of the business and Nestle 41%.Freshly was a New York-based prepared meal delivery company that delivers throughout the United States. Kettle Cuisine, which is owned by Catterton, has been favoring its foodservice business rather than retail, and that’s apparently a model Freshly will follow. Nestle CEO Mark Schneider called the two businesses, both costly 2020 acquisitions, “two transactions that did not meet our objectives fully.” He added, “The environment of 2020 fooled us.” While home delivery was hot during the pandemic, Schneider said Freshly now is confronting higher customer acquisition costs, lower customer retention and lower prospects for the business. 29 investor day presentation, Nestle also said it’s searching for a home for its peanut allergy treatment Palforzia, the most interesting part of its $2.6 billion acquisition Aimmune Therapeutics. Nestle is combining its $950 million 2020 acquisition, in which it had high hopes, with Kettle Cuisine in a joint venture led by investment firm L Catterton. Now that the Covid pandemic is (hopefully) winding down, Freshly, one of the leading home meal delivery businesses, is winding down also. ![]()
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