What's Going On With Blue Apron Stock?
Portfolio Pulse from Adam Eckert
Blue Apron Holdings (NYSE:APRN) sold its production and fulfillment operational infrastructure to FreshRealm for $28.5 million in cash, with an additional $4 million if certain milestones are met by September 30. The company also signed a 10-year deal making FreshRealm the exclusive supplier of its meal kits.
June 12, 2023 | 2:09 pm
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Blue Apron's stock price is down after selling its production and fulfillment infrastructure to FreshRealm and signing a 10-year exclusive supplier deal.
The sale of Blue Apron's production and fulfillment infrastructure to FreshRealm and the 10-year exclusive supplier deal may have caused uncertainty among investors, leading to a decline in the stock price. The long-term partnership could also be seen as a potential risk, as it limits Blue Apron's flexibility in sourcing meal kits.
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IMPORTANCE 80
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