Kroger May Be Buying Boxed for As Much As $500 Million

Kroger could be considering to purchase online wholesaler Boxed for up to $500 million according to a source familiar with the situation.

According to the person who wishes to remain anonymous, the deal could value Boxed at around $325 million to $500 million.

Boxed sells items in bulk such as toilet paper and delivers it to people’s home.

With e-commerce giant Amazon acquiring Whole Foods Market for nearly $14 billion, the market is heating up, especially with Target also agreeing to buy Shipt for $550 million. Shipt is a same-day delivery platform.

The source has said that there could be other retailers interested in purchasing the company.

Disclaimer: We have no position in Kroger Co. (NYSE: KR) and have not been compensated for this article.