Campbell Soup Co., Camden, N.J., announced a strategic partnership and $10 million investment in Chef’d, an El Segundo, Calif.-based e-commerce meal marketplace, to help grow Campbell’s e-commerce capabilities.
With the investment, Campbell will become Chef’d’s largest strategic investor and receive a seat on the company’s board of directors. Under the terms of the partnership, Chef’d will help with infrastructure and distribution of meal solutions through the Campbell’s Kitchen site. Additionally, Campbell will benefit from Chef’d’s insights on e-commerce business models, access to data analytics and insights on shopper behaviors. The two companies will also test various capabilities over the 3-year agreement around product innovation and fulfilment.
“E-commerce will transform the food industry in similar ways to how it transformed entertainment and apparel. It is a game changer for consumers, food makers and retailers alike,” says Denise Morrison, president and CEO at Campbell Soup. “The movement is irrevocable and irreversible. In the future, shopping for and preparing meals will be flexible, fully automated and even anticipatory. Chef’d will help Campbell connect with our consumers where they are today, and more importantly, where they’re headed.”
Chef’d offers consumers the opportunity to choose and re-order from hundreds of meals at any given time, without the hassle and cost of subscriptions or membership fees. Chef’d partners with notable chefs, culinary personalities and over 125 trusted brands in food, fitness and health and wellness to offer over 1,000 meal solutions spanning breakfast, lunch, dinner and dessert.
“We are actively looking to add strategic partners, and Campbell’s outlook on the future of food and e-commerce aligns perfectly with the Chef’d vision of the future of online grocery,” says Kyle Ransford, chief executive officer at Chef’d. “Both Campbell and Chef’d believe in continuing to drive innovation in the new food economy, particularly around consumer customization and e-commerce solutions.”
“We are fully committed to growing our e-commerce business with an emphasis on bold moves and rapid pace,” says Mark Alexander, president, Americas simple meals and beverages at Campbell. “We are firm believers in building relationships with partners that share our vision while enabling us to rapidly learn, evolve and test new capabilities.”