Food and beverage giant Nestlé announced Friday that it has acquired Freshly, a leading fresh-prepared meal delivery service, for $950 million, with potential earnouts up to $550 million contingent to the successful growth of the business.

Founded in 2015, Freshly delivers a menu of fresh, chef-cooked meals to subscribing members across the United States, that, according to the company, breaks down the barriers to healthy eating by delivering nutrition and convenience at scale.

“We are excited to welcome Freshly to the Nestlé family,” said Nestlé USA Chairman and CEO Steve Presley. “Consumers are embracing e-commerce and eating at home like never before. It’s an evolution brought on by the pandemic but taking hold for the long term. Freshly is an innovative, fast-growing, food-tech startup, and adding them to the portfolio accelerates our ability to capitalize on the new realities in the U.S. food market and further positions Nestlé to win in the future.”