Blue Apron, the meal kit business, has agreed to be sold to food and restaurant company Wonder Group for $103 million. This deal represents a premium from Blue Apron’s previous per-share price and comes after the company’s recent transition to a more asset-light business model. Blue Apron has faced strategic difficulties in recent years, despite once being a leader in the meal delivery market. The company went public in 2017 but struggled to maintain its market share in the face of increasing competition. The sale to Wonder Group will allow Blue Apron to continue operating under its current brand. Wonder Group, founded by entrepreneur Marc Lore, aims to expand its presence in the meal kit industry through this acquisition.
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