By Recode Staff • August 27, 2018 07:51:58 Recode’s Sarah Binder and Kara Swisher report on the deal that’s being touted as a $10 billion acquisition by a conglomerate focused on cutting oats.
The deal is expected to close in the first quarter of 2019.
It’s one of the largest deals ever for an online grocery retailer, as Alro plans to offer more than 2,000 brands of oats to consumers.
Alro is already one of several major players in the online oats market, which has seen a $7 billion increase in sales over the past year, and it has recently launched a mobile-focused offering for consumers.
Alro CEO and founder and chief executive officer Paul Sperry says the deal will help drive sales growth for Alro.
The company has a lot of focus on getting brands to market, including the new Alro-branded brands, as well as the other brands that have recently launched.
The Alro brand will be a big part of Alro’s overall product offering, and this will be another way for us to drive additional sales,” Sperrie said.
Alros will be selling its oats through AlroDirect, which is owned by Alros and will be operated by Alro to help customers buy their oats.
Alros also will be the sole provider of Alros oats to grocery stores.
Alarms CEO and CEO, Paul Spermry, says the Alros business will help accelerate growth in the oats industry.
The move will help Alros drive revenue growth as well, he said.