One of the highest-profile e-commerce startups is in talks to sell.
Online bulk-order wholesaler Boxed has received acquisition interest from grocery giant Kroger and several other major retailers, according to people with knowledge of the situation, with offers already in or expected to arrive next week for the New York-based startup. Should multiple companies make formal bids for Boxed, the company could move through a quick auction process, the people said.
Kroger, the $25 billion market cap chain based in Cincinnati, is one of the most likely candidates to acquire Boxed and one of the first to make an offer, the people familiar with the situation said. Costco, Target and Germany's Aldi have also been mentioned as possible bidders among others, the people said, adding that initial offers likely range from $325 million to $500 million. Boxed had last raised money in 2016 at a valuation of $470 million, according to a Delaware filing under its corporate name, Giddy Inc.
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