Blue Apron Explodes on Weight Watchers Partnership

Despite a big rebound on Thursday after announcing a partnership with Weight Watchers, shares of Blue Apron were still not able to get over $1.00. The stock is down over 77% for the year now.

Shares did however explode over 17% on the news of its new partnership.

The meal kit delivery company will pay Weight Watchers a fee for subscriptions it secures as a result of the arrangement, according to the Wall Street Journal. The company declined to go into more detail.

In a press release, the companies announced that six new meal recipes would be available through Blue Apron, which began on Dec. 26th. The recipes were inspired by the WW Freestyle program and trackable in the WW app.

“This partnership is all about bringing delicious, inspiring meals directly to your home,” said Stacey Mowbray, President of North America at Weight Watchers. He added, “The recipes – based on WW Freestyle, our most effective and livable program to date – make cooking at home simpler, convenient and enjoyable.”

Brad Dickerson, CEO, Blue Apron stated, “The passion, engagement, and enthusiasm of WW members closely mirrors the attributes of our community of home cooks. Our new WW Freestyle menu is designed to bring discovery and achievement to the home cooking experience, introducing consumers––including WW members and Blue Apron customers––to ingredients, techniques, and delicious meals that empower them to develop a wellness-inspired home cooking routine.”

Disclaimer: We have no position in Blue Apron Holdings Inc. (NYSE: APRN) nor Weight Watchers International, Inc. (NASDAQ: WTW) and have not been compensated for this article.