Yesterday, we reported on Washington,D.C-based Power Supply's recent acquisitions of eliteEATS and Healthy Bites. Today, we found out some additional details behind the acquisitions, and how they contribute to the Power Supply's overall expansion strategy.
Tech.Co initially suspected that the acquisitions of both companies took place at an earlier date than yesterday, and according to Power Supply cofounder Robert Morton, indeed this is the case. The acquisition of the D.C.-based Healthy Bites closed in late-February, while the transaction with Los Angeles, CA-based eliteEATS closed more recently in mid-April.
“Given the great response so far in D.C. (seven local chefs in the network, close to 100 pickup locations, [and] home &office delivery), we’ve been really focused on further developing the network here and bringing it to new cities like L.A,” said Morton. “Mostly that’s been an organic, ground-up effort, but in Healthy Bites and eliteEats we found values-aligned organizations that could help us accelerate the growth of the network and our reach in the D.C.-MD-VA and L.A. markets.”
According to Morton, Power Supply saw that both Healthy Bites and eliteEATS had developed into great companies, offering great, healthy food, and being led by some truly passionate people. The two were attracted to Power Supply's network model and tech platform, which would enable both companies to scale their production efforts and reach.
“So, we jumped at the chance to add this additional fuel to our core expansion strategy and bring on the talented founders from both organizations who are taking on key roles for us at Power Supply.”
Power Supply provides a weekly delivery service of paleo, mixitarian, and vegetarian ready-to-eat meals. Their food is cooked by a network of independent local chefs, offering service subscribers with a healthy variety of dishes. The service is currently only available in Washington, D.C. and Los Angeles.