Freshly

Freshly

Company type	Private (acquired by Nestlé)
Industry	Food delivery, Convenience food
Founded	2012
Founder	Michael Wystrach, Carter Comstock
Defunct	January 2023
Fate	Acquired by Nestlé in October 2020; operations discontinued January 2023
Headquarters	New York City , United States
Area served	Contiguous United States
Key people	Michael Wystrach (co-founder)
Products	Ready-to-eat meals
Number of employees	454 (laid off December 2022)
Parent	Nestlé (from October 2020)

Freshly was a convenience food delivery service headquartered in New York City, operating throughout the contiguous United States. Nestlé acquired the company in October 2020, and it discontinued its operations by January 2023.

Delivering approximately one million ready-to-eat meals each week, Freshly specialized in dishes that could be quickly reheated using a microwave or oven. The company also collaborated with Feeding America to donate surplus meals and ingredients to regional food banks.

History

Established in 2012 by Michael Wystrach and Carter Comstock, Freshly was inspired by Wystrach's personal health experiences and his family's background in the restaurant industry. The founders emphasized sustainability and minimizing food waste when designing their model centered on healthy, convenient meals.

In 2015, Freshly secured $7 million during its Series A financing round, followed by a $21 million investment led by Insight Partners in 2016. The company expanded its distribution capabilities in 2017 by opening a facility in Savage, Maryland, which generated 500 new jobs. That same year, Nestlé spearheaded a $77 million funding round, initiating a strategic alliance with Freshly.

By 2020, Freshly ventured into the B2B sector by supplying meals to frontline workers. Nestlé completed the acquisition for $950 million with the potential for an additional $550 million based on earn-out targets. Post-acquisition, Freshly introduced a low-carbohydrate, high-protein product line designed for active consumers.

In early 2021, the company launched a 134,000-square-foot distribution hub in Austell, Georgia; however, this center was shut down by mid-2022. Additionally, August 2022 saw the debut of FreshlyWell, a specialized division focused on serving employers and organizations.

Due to operational difficulties, Freshly closed its Maryland distribution center in December 2022, leading to 454 employee layoffs. The company fully terminated its services in January 2023.

In May 2023, former investors initiated legal action against Nestlé, alleging non-compliance with earn-out payment commitments related to the acquisition.