Former Walmart CEO Marc Lore’s Wonder Group has purchased meal-kit firm Blue Apron, intending to build a leading platform for enhancing mealtime choice, flexibility, and convenience across the two brands.  

Blue Apron stockholders will be entitled to receive $13 in cash per share of Class A common stock through a tender offer, reflecting an equity value of around $103 million, under the terms of the merger agreement, which has been unanimously approved by Blue Apron’s board.

Following the completion of this deal, Wonder intends to continue Blue Apron’s current operations, with new synergies expected between consumer-facing apps and delivery logistics.

“Wonder is creating the mealtime super app, serving a broad range of occasions that feature cuisines from some of the world’s best chefs and restaurants while leveraging our culinary engineering and vertically-integrated model,” said Wonder Group founder and CEO Marc Lore. 

The deal is anticipated to close in the fourth quarter of this year, depending on customary closing conditions including the tender of a majority of the Company’s Class A common stock.

Blue Apron, founded in 2012, sold its operational infrastructure to FreshRealm earlier this year, aiming to focus on its direct-to-customer business. The transaction was valued at up to $50 million with approximately $25 million of upfront cash received

The Wonder Group deal is said to ensure Blue Apron survives, and customers can anticipate business to continue as usual.