Related Searches: Tea Vitamin Nutrients Ingredients paper cup packing

Food & Health Ingredients
Health & Nutrition
Processing & Packaging
Starch & Starch Derivatives

Smithfield Foods announces $25 million strategic investment in Chef’d

newfoodmagazine 2017-08-15
Share       

Smithfield Foods, Inc. announced a strategic partnership with an investment of $25 million in Chef’d, a best-in-class e-commerce meal marketplace. Part of the Series B round of funding for Chef’d, this investment makes Smithfield the brand’s largest strategic investor and provides Smithfield a seat on the company’s board of directors.

With this investment, the companies will leverage Smithfield’s portfolio of brands for meal kit solutions across a variety of occasions. Chef’d will gain access to Smithfield’s product development and sourcing capabilities, and Smithfield will be able to innovate and learn using Chef’d’s direct-to-consumer model by tapping into real-time consumer insights and sales data. Chef’d will be able to leverage Smithfield’s national distribution network and facilities to expand its ability to serve consumers with next-day delivery services.

“This strategic partnership reflects our continued commitment to innovation—both in our products and how they are delivered to consumers,” said Kenneth M. Sullivan, president and chief executive officer of Smithfield Foods.

“We’re able to expand our e-commerce capabilities and reach consumers looking for high-quality, stress-free meals.”

Chef’d offers customers the opportunity to choose and reorder from more than a thousand meals at any given time, without the hassle and cost of subscriptions or membership fees. Chef’d partners with notable chefs, culinary personalities and more than 125 trusted brands in food, fitness, and health and wellness to provide convenient meal solutions spanning breakfast, lunch, dinner, and dessert.

“Leveraging the collective knowledge and capabilities of both companies, our partnership will open up opportunities for innovation and access to first in class national manufacturing and distribution facilities as we rapidly scale,” said Kyle Ransford, CEO of Chef’d.

“Smithfield is a well-recognised leader in the food industry and shares our vision of meal kits and e-commerce playing an increasingly important role in consumers’ food choices.”

Additional details will be announced in the coming months. Other investors in Chef’d’s Series B round include Campbell Soup Company and Fresh Direct, which is making a follow-on investment to their Series A investment. D.A. Davidson & Co. acted as the exclusive financial advisor to Chef’d.

E-newsletter

Subscribe to our e-newsletter for the latest food ingredients news and trends.

Tags

Recommended Products

Angle Aeat Valve Accessory

Angle Aeat Valve Accessory

POTASSIUM METAPHOSPHATE

POTASSIUM METAPHOSPHATE

Cassava starch processing line

Cassava starch processing line

Protassium Chloride

Protassium Chloride

POTASSIUM  CHLORIDE

POTASSIUM CHLORIDE

Quinine Hydrochloride

Quinine Hydrochloride

Sodium Lactate Powder 98%

Sodium Lactate Powder 98%

DDYM520A Pad Printing Machine

DDYM520A Pad Printing Machine

SODIUM TRIPOLYPHOSPHATE

SODIUM TRIPOLYPHOSPHATE

Grape Skin Extract

Grape Skin Extract

Distilled spirits & Biofuels

Distilled spirits & Biofuels

Industrial Homoqenizer

Industrial Homoqenizer

Top

SJGLE B2B Website : 中文版 | ChineseCustomer Service: 86-400 610 1188-3 ( Mon-Fri 9: 00-18: 00 BJT)

About Us|Contact Us|Privacy Policy|Intellectual Property Statement

Copyright 2006-2023 Shanghai Sinoexpo Informa Markets International Exhibition Co Ltd (All Rights Reserved). ICP 05034851-121