Campbell Soup Co. had a big announcement on Wednesday. The company is going to invest $10 million into Chef’d, the meal kit company, in order to get more footing into the healthier fresh foods category.
According to the company it would also help it grow its e-commerce presence. Campbell believes that between 2016 and 2021, e-commerce sales of food and beverages will reach $66 billion, a compound annual growth rate of 38 percent.
Back in 2015, Campbell Soup created a fresh-food unit that sells refrigerated beverages and salad dresses. Weak sales however have hit the company as the world moves towards healthier and more fresh options.
Many big industry players have already made changes to keep up with this demand and looks like Campbell is now focused on doing it too.
“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,” said Denise Morrison, President and Chief Executive Officer at Campbell Soup Company.
“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.”
“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,” said Kyle Ransford, CEO 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.”
Disclaimer: We have no position in Campbell Soup Company (NYSE: CPB) and have not been compensated for this article.