Boxed is an online members-only bulk-selling online store.
Boxed is reportedly in talks to sell to Kroger grocery store for up to $500 million.
It will reportedly take investment money if a deal is not reached.
Retailers seem to be circling around online retailer Boxed, according to multiple reports.
Speculation swirled in recent weeks, starting with a report by Forbes on January 12 that Kroger and rivals were looking seriously at buying or investing in the company. Forbes said a deal could be worth all the way up to $500 million, more than Boxed latest valuation of $470 million.
No deals have been finalized yet, and any potential deal could fall through, though the New York Post reported on January 19 that Kroger is in “advanced negotiations” with Kroger.
Boxed could raise additional capital if a deal isn’t reached for an acquistion deal, Forbes reported. The Post also reported that General Mills and Bed Bath & Beyond were also interested in investing in Boxed.
Boxed is billed as the millennial-friendly alternative to wholesale stores like Costco and Sam’s Club, the retailer has made a name for itself. A club-based system without the membership fee, Boxed offers items in bulk ranging from household brands and …read more
Source:: Businessinsider – Technology