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Nestle buys minority stake in startup Freshly

Nestle (NESN.S) announced on Tuesday that it has acquired a minority stake in startup Freshly, a provider of freshly prepared meals to consumers.

The Swiss food giant announced that it has become a leading investor in a $77 million for Freshly, thereby helping to access to the $10 billion market for ready meals in the United States.

Nestle did not disclose all the details of its investment.

The investment will help Freshly creating a new East Coast kitchen and to expand its service in the United States.

Nestle's Food Division President in U.S. will join Freshly's board of directors.

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