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Yesterday, MNB took note of a CNBC story about how meal kit company Blue Apron may have miscalculated with an IPO that was supposed to generate significant investment capital, but instead has just resulted in a steadily decreasing company valuation.

But now comes the news that hedge fund Jana Partners has invested about $5.6 million in Blue Apron, giving it ownership of about 600,000 shares.

What’s interesting about this investment is that Jana Partners is the same company that took a significant position in Whole Foods earlier this year, pushed for changes at the company, and eventually created the climate that allowed Amazon to step in and make a $13.7 billion bid to acquire the grocer. Jana sold its stake in Whole Foods in short order, for a profit of about $300 million.

CNBC notes that, ironically, “Blue Apron launched its roadshow the Monday after the deal between Amazon and Whole Foods was announced. Many investors, fearful that the combination of Amazon and Whole Foods could eat away at Blue Apron's share, passed on the deal.”
KC's View:
If Jana is investing in Blue Apron, it means it must see the opportunity for some green cash. It seems that the odds of Blue Apron being sold to someone, and Jana turning a tidy profit, have just gone up.

(BTW…isn’t Blue Apron doing a test with Whole Foods in Massachusetts? How funny would it be if Whole Foods/Amazon ended up buying it, contributing even more to the cash flow at Jana?)