Tom Brady’s meal-kit maker gets boost from Del Monte

Bloomberg

Purple Carrot, the meal-kit company that partnered with Tom Brady to create the quarterback’s TB12 line of food, is getting a boost from the fruit and vegetable giant Fresh Del Monte Produce Inc.
Del Monte, which generates more than 40 percent of its revenue selling bananas, is investing $4 million in the Needham, Massachusetts-based startup. The deal gives Purple Carrot, which only sells vegan meals, access to a national distribution network and supply chain as it tries to compete in the increasingly crowded meal-kit industry.
“We see this as a real strategic advantage over time,” said Andy Levitt, the company’s founder and chief executive officer. “It’s a very good fit.”
The Fresh Del Monte investment comes as Purple Carrot is on pace to post annual revenue of about
$50 million. That’s a fraction of the sales posted by industry leaders Blue Apron and HelloFresh, but Purple Carrot’s growth has outpaced the broader industry, according to data from researcher Second Measure. The pickup in demand comes after Blue Apron’s struggles during its first six months as a public company raised questions about the viability of meal-kit subscriptions.