Could Amazon Beat Kroger’s Reported $300 Mil-$400 Mil Bid For

Could Amazon Beat Kroger’s Reported $300 Mil-$400 Mil Bid For

It seems has more than one suitor. (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.”

General Mills (GIS) and Bed Bath & Beyond (BBBY) were also said to be mulling investments in the startup, the Post said last week.

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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