GrubMarket Takes Over Good Eggs.
GrubMarket, valued at $3.5 billion, has acquired the struggling fresh food delivery startup Good Eggs in an all-stock deal. The acquisition was initiated by Good Eggs’ investors seeking an exit. Good Eggs, once valued at $365 million, had seen a significant valuation drop to $22 million as it faced challenges post-COVID.
Under the new arrangement, Keith Brewer, formerly COO of GrubMarket-owned Daylight Foods, will lead Good Eggs. The deal reflects a trend of consolidation in the food and grocery delivery sector as investors look to pivot from failing startups to more stable players. GrubMarket, with its focus on B2B logistics and profitability, aims to use this acquisition to potentially re-enter the B2C market.
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