The meal kit company Blue Apron is considering a sale to help maximize its value to shareholders. Blue Apron has had a lackluster time on the public market and has struggled to make an impression on Wall Street.
The company is also considering a merger with another meal kit company or selling off assets it may own.
“We continue to believe that we have the right strategy to drive our resumption of growth as we work to launch additional new capabilities and test new product offerings,” Blue Apron CEO Linda Findley Kozlowski said in a press release. “Our strategic alternatives process, together with our cost optimization initiatives, is intended to best position the company for the future, including to support our growth strategy. These efforts reflect the commitment of the Board, management and myself to doing what’s in the best interest of the business, Blue Apron’s shareholders and other stakeholders.”
In 2019, Blue Apron brought in $455 million (rounded up), down from the $667 million in 2018. Blue Apron claims their revenue drop is a result of a decrease in customers.