Growth equity investment to fund further national expansion, improve operations and data analytics, and accelerate marketing initiatives with corporate partners
D.A. Davidson & Co. announced that it has served as exclusive financial advisor to Chef’d, Inc., a best-in-class e-commerce meal marketplace, in its first closing of the Series B capital raise with Campbell Soup Company (NYSE: CPB) and Fresh Direct, LLC. The transaction makes Campbell the largest strategic investor in Chef’d, an El Segundo, California-based company. As part of this first close, Fresh Direct made a follow-on investment to their Series A investment.
Chef’d offers consumers across the U.S. the opportunity to choose and reorder meals at any given time without the hassle and cost of subscriptions or membership fees. Chef’d collaborates with a rapidly growing group of commercial partners. To date, the company has aligned with over 125 different groups, including notable chefs, culinary personalities, media outlets, technology companies, and a host of trusted brands in food, fitness, and health and wellness to offer over 1,000 meal solutions spanning all meal occasions.
“We are always looking to add strategic partners and Campbell’s outlook on the future of food and e-commerce aligns perfectly with the Chef’d vision of the future of online grocery,” said Kyle Ransford, CEO at Chef’d. “Both Campbell and Chef’d believe in continuing to drive innovation in the new food economy, particularly around consumer customization and e-commerce solutions.”
“Chef’d is a true innovator in the rapidly growing direct-to-consumer food market. It is fitting that they have aligned with a dynamic, progressive, forward-looking organization such as Campbell Soup Company,” said Jeff Cleveland, Managing Director and Head of Food, Beverage and Agriculture Investment Banking at D.A. Davidson. “We are privileged to represent Chef’d in securing this and future investments.”
We look forward to continuing to work with Jeff and his team at D.A. Davidson. They have been instrumental in positioning our company for this capital raise and in representing Chef’d in the marketplace as a trusted advisor.
-Kyle Ransford, CEO of Chef’d
Campbell’s and Fresh Direct’s investment is the first closing of the Series B capital raise. D.A. Davidson continues to represent Chef’d as their exclusive financial advisor in the Series B capital raise.
D.A. Davidson & Co.’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise and has extensive transaction experience serving middle market clients worldwide.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland and Seattle, the company has more than 1,300 employees and offices in 23 states.
Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
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