Sector News

HelloFresh to acquire Canadian meal kit company

October 23, 2018
Food & Drink

HelloFresh, a meal kit company with operations in 11 countries, is expanding its reach with the acquisition of Chefs Plate Inc., Etobicoke, Ont. Financial terms of the transaction were not disclosed.

The combined company is expected to create the clear market leader in the Canadian meal kits market with annual revenues of approximately C$200 million ($152.7 million).

“We are proud to join forces with the leading global meal kit company HelloFresh,” said Jamie Shea, co-founder and chief executive officer of Chefs Plate. “Since our launch in 2014, we have pioneered the meal kit market following our clear mission to create meaningful human connections through food. Now, we have the unique opportunity to further accelerate our plans and create an offering that attracts even more customers. We are more than delighted to have found a partner in HelloFresh that shares our passion for food and quality at all levels. The partnership will allow us to leverage the strength of the most successful global player in the market and at the same time continue to build a sustainable Canadian food system and support the community around us.”

In March, Chefs Plate launched 15-minute meal kits featuring fresh, par-cooked and pre-cut ingredients to help consumers get dinner on the table in less time.

Ian Brooks, c.e.o. of HelloFresh Canada, called the acquisition of Chefs Plate “a big leap for our ambitious plans for the Canadian market.”

“Together, we are not only the largest player, but we also create a superior offering. In the future, we can serve the widest range of individual consumer needs with two strong brands,” Mr. Brooks said. “We are more than happy to have the talented Chefs Plate team on board and are looking forward to working together on many exciting projects.”

Green Chef meal kitHelloFresh earlier this year acquired Green Chef, a U.S.D.A.-certified organic meal kit subscription service. The company also marked its entrance into the retail market with the launch of its meal kits in nearly 600 stores under the Ahold Delhaize U.S.A.’s Giant Food and Stop & Shop brands.

Founded in 2011, HelloFresh has operations in the United States, United Kingdom, Germany, The Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland, Canada and New Zealand. The company delivered 48.9 million meals to 1.84 million active customers worldwide in the three-month period between April 1 and June 30.

By Eric Schroeder

Source: Food Business News

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