HELLO FRESH IN £1.3BN DEAL

HELLO Fresh is targeting a £1.3bn stock market float as it seeks to topple American recipe-boxes rival Blue Apron.

The German company has set a target range of £8- £10.24 per share and hopes to raise up to £277m to expand. Hello Fresh sends a recipes and the food needed to make them to customers’ homes each week. Blue Apron’s value has dropped by about half since its June public offering. The firm’s stock soured after it lost customers in the second quarter.

It has also been rattled by rumours Amazon will launch its own recipe box service.

In July the internet giant filed the trademark ‘We do the prep. You be the chef’.