Blue Apron shares were higher on Thursday after a tie-up between rival Plated and grocer Albertsons was announced on Wednesday evening.

Blue Apron’s shares rose as high as $5.68 on Thursday and were up about 2 percent at $5.35 around midday. The uptick comes after Albertsons said it would acquire meal-kit company Plated, and offer Plated meal kits at its store locations. Prior to the announcement of that deal, Blue Apron’s shares had fallen to their fourth-lowest closing price ever, at $5.22 a share — close to their intraday low of $5 a share.

There’s been handwringing among investors in grocers and food delivery start-ups as Amazon has integrated Whole Foods into its business, providing a combination of technology and upscale food that could make it difficult for smaller businesses to compete.

But Plated’s acquisition has sparked fresh speculation around Blue Apron, with Barron’s quipping, “Investors don’t love Blue Apron but a supermarket might.”

“If I were Blue Apron, I would feel naked,” Plated investor Kevin O’Leary told CNBC’s “Fast Money” on Wednesday. “I would feel that I need a partner with stores and I need it now because this is all about getting customers into the cycle of subscriptions.”

James Beriker, the CEO of cooked-meal delivery company Munchery, said there’s likely to be more consolidation in the space. O’Leary said that having a brick-and-mortar location is the new model of subscription food companies, and said the game’s changed for Blue Apron’s chance of acquisition.

“I think you have to marry up,” O’Leary said. “If I were Blue Apron I’d …. buy the rest of the competitors’ fulfillment centers and make themselves look very pretty for a Kroger or somebody else.”

Blue Apron declined comment on the stock move, but Blue Apron’s CEO has thrown cold water on comparisons with grocery stores in the past.

Blue Apron has struggled to get a foothold since its $300 million IPO in June. But Blue Apron CEO Matthew Salzberg has told CNBC that unlike a grocery store, which distributes food, he sees Blue Apron’s meal kits as proprietary products, sourced from Blue Apron farms and wineries. As more companies, including Amazon, promote online food shopping, Blue Apron could benefit, Salzberg said.

— With reporting by CNBC’s Lauren Hirsch and Aditi Roy.

Disclaimer: CNBC owns the exclusive off-network cable rights to “Shark Tank.” Shark Tank’s Kevin O’Leary is an investor in Plated.