It seems Boxed.com has more than one suitor.
Amazon.com (AMZN) is said to be wooing the online wholesaler of bulk consumer packaged goods, with the New York Post reporting that the e-commerce bigwig met with Boxed Chief Executive Chieh Huang in Seattle on Wednesday to talk buyout.
X Meanwhile, Post sources say Kroger‘s (KR) recent offer for Boxed stands at $300 million to $400 million. That figure follows reports that the grocery heavyweight had been engaged in advanced-stage discussions to acquire Boxed, the so-called “Costco for millennials.”
Kroger shares climbed 0.8%, near 30.50 on the stock market today. Amazon neared the 1,400 level with a 1.6% gain.
Boxed sells everything from ground coffee to diapers to hand soap, delivers for free and does not charge membership fees. For Kroger, an acquisition would bolster its e-commerce operations at a time when investors are fretting about Amazon’s impact on the grocery space, in the wake of its $13.7 billion takeover of Whole Foods Market last year.
For Amazon, an acquisition would give it some some traction vs. wholesale giant Costco (COST).
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The online grocery space is hot. As Investor’s Business Daily reported last week, Wal-Mart (WMT) has trademarked “Wam! by Walmart,” described as “retail and online grocery store services featuring home delivery service,” though a spokesperson declined to divulge further detail. The move comes as the nation’s largest retailer competes with Kroger and Amazon for shopper dollars.
Separately, Wal-Mart announced the launch of an online grocery delivery service in Japan, in partnership with Rakuten.
Costco shares was up 0.5% to 199.
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