Smithfield Foods Inc. has announced a strategic partnership with an investment of $25 million in Chef'd, a best-in-class e-commerce meal marketplace. Part of the Series B round of funding for Chef'd, this investment makes Smithfield the brand's largest strategic investor and provides Smithfield a seat on the company's board of directors.
With this investment, the companies will leverage Smithfield's portfolio of brands for meal kit solutions across a variety of occasions. Chef'd will gain access to Smithfield's product development and sourcing capabilities, and Smithfield will be able to innovate and learn using Chef'd's direct-to-consumer model by tapping into real-time consumer insights and sales data. Chef'd will be able to leverage Smithfield's national distribution network and facilities to expand its ability to serve consumers with next-day delivery services.