Nestlé bought the healthy meal kit delivery service three years after leading its series C round, in a deal that could reach $1.5bn with earnouts.

Nestlé acquired one of its portfolio companies, US-based meal kit provider Freshly, on Friday in a deal that valued it at $950m and which could hit $1.5bn with earnout payments included.

Freshly runs a subscription service that delivers healthy meals to consumers that can be heated up in just three minutes. It is now shipping more than 1 million meals a week across the United States and has forecasted sales of $430m for 2020.

The deal comes after approximately $107m…

Robert Lavine

Robert Lavine is special features editor for Global Venturing.