Nestlé SA took full ownership of Freshly in a deal that it said values the online prepared-meal startup at $950 million, positioning the world’s biggest packaged-food company to capitalize on a pandemic-driven shift toward at-home dining.
Nestlé said it would pay an additional $550 million if the business hits certain growth targets. The Swiss food giant bought a 16% stake in Freshly in 2017. Nestlé said Friday that the agreement to buy the rest of the company will help it navigate the “new realities” in the U.S. food market.
