Boxed in talks to be acquired by Kroger for $500 million

New York-based Boxed, the startup for buying food and household items in bulk, is in talks to be acquired by Kroger for about $500 million. Other retailers are also expected to be making bids.

The news was first reported by Forbes and confirmed to TechCrunch by a source with knowledge of the situation. We’re hearing that the company is aiming to make a decision this weekend.Founded in 2013, Boxed is effectively an online Costco competitor. With just a few taps, customers can order large boxes ranging from cereal to laundry detergent. The items are priced at a discount.In an era where Jet can sell to Walmart for $3 billion, it’s unsurprising that Boxed would generate buyer interest....