Blue Apron to Participate in Fireside Chat at TD Cowen’s Future of the Consumer Conference
05 Junho 2023 - 5:15PM
Business Wire
Blue Apron (NYSE: APRN) announced today that Linda Findley, Blue
Apron’s President and Chief Executive Officer, will participate in
a fireside chat with Michael Lippold, FreshRealm’s Founder and
Chief Executive Officer, at TD Cowen’s 7th Annual Future of the
Consumer Conference on Wednesday, June 7, 2023 at 12:15pm ET in New
York.
On May 16, 2023, Blue Apron announced plans for a long-term
operations and logistics relationship with FreshRealm, a leading
provider of fresh meals to top retailers nationwide, that would see
Blue Apron’s business shift to an asset-light model. The plans for
the asset-light model would allow Blue Apron to focus on further
growing its strong brand and delivering the high-quality products
its customers have come to expect. Upon closing, Blue Apron expects
to continue to drive its core direct-to-consumer business.
As previously announced, Blue Apron and FreshRealm have signed a
non-binding letter of intent for up to $50 million payable to Blue
Apron for the transfer of its operational infrastructure, as well
as when transition, efficiency and product milestones are met. The
parties currently expect to sign definitive agreements and close
the transaction on or about June 9, 2023.
At the fireside chat, Findley and Lippold plan to discuss the
proposed transaction.
A webcast of the presentation will be available on Blue Apron’s
Investor Relations website https://investors.blueapron.com/.
About Blue Apron
Blue Apron’s vision is Better Living Through Better Food™.
Launched in 2012, Blue Apron offers fresh, chef-designed meals that
empower home cooks to embrace their culinary curiosity, challenge
their abilities in the kitchen and see what a difference cooking
quality food can make in their lives. Blue Apron is focused on
bringing incredible recipes to its customers, deepening its
commitment to its employees, continuing to reduce food and
packaging waste, and addressing its carbon impact. Visit
blueapron.com to learn more.
Forward-Looking Statements
This press release includes statements concerning Blue Apron and
its future expectations, plans and prospects that constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. For this purpose, any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. In some cases,
you can identify forward-looking statements by terms such as "may,"
“will,” "should," “would,” "expects," "plans," "anticipates,"
"could," "intends," "target," "projects," "contemplates,"
"believes," "estimates," "predicts," "potential," or "continue," or
the negative of these terms or other similar expressions. The
forward-looking statements in this press release are only
predictions. Blue Apron has based these forward-looking statements
largely on its current expectations and projections about future
events and financial trends that it believes may affect its
business, financial condition and results of operations. These
forward-looking statements speak only as of the date of this press
release and are subject to a number of risks, uncertainties and
assumptions including, without limitation, the ability of Blue
Apron to enter into definitive agreements with FreshRealm in
connection with the transactions described in this press release on
or about June 9, 2023, if at all; the sufficiency of the Blue
Apron’s cash resources and its ability to continue to operate as a
going concern in the event that, prior to the middle of June 2023,
the FreshRealm transaction does not close; Blue Apron’s ability to
successfully execute its business without its fulfillment and
production assets; the ability of Blue Apron to successfully and
efficiently transition its fulfillment and production assets to
FreshRealm; the ability of FreshRealm to continue to fulfill Blue
Apron’s meal-kit products in a manner consistent with the Blue
Apron’s brand standard, if at all; Blue Apron’s ability to achieve
the anticipated benefits of the FreshRealm transaction for Blue
Apron’s stockholders; Blue Apron’s expectations regarding, and the
stability of, its supply chain, including potential shortages,
interruptions or continued increased costs in the supply or
delivery of ingredients to Blue Apron, or following the FreshRealm
transaction, to FreshRealm, and parcel and freight carrier
interruptions or delays and/or higher freight or fuel costs, as a
result of inflation or otherwise; any material challenges in
employee recruiting and retention, any prolonged closures, or
series of temporary closures, of one or both of the fulfillment
centers it operates or to be operated by FreshRealm, supply chain
or carrier interruptions or delays, and any resulting need to
cancel or shift customer orders; Blue Apron’s ability, and
following the FreshRealm transaction, Blue Apron’s reliance on
FreshRealm, to maintain food safety and prevent food-borne illness
incidents and its susceptibility to supplier-initiated recalls; and
other risks more fully described in Blue Apron’s Annual Report on
Form 10-K for the year ended December 31, 2022 filed with the
Securities and Exchange Commission on March 16, 2023 and the Blue
Apron’s Quarterly Report on Form 10-Q for the quarter ended March
31, 2023 filed with the Securities and Exchange Commission on May
4, 2023 and in other filings that Blue Apron may make with the
Securities and Exchange Commission in the future. Blue Apron
assumes no obligation to update any forward-looking statements
contained in this press release, whether as a result of any new
information, future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230605005758/en/
Muriel Lussier Blue Apron muriel.lussier@blueapron.com
Blue Apron (NYSE:APRN)
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