TORONTO – HelloFresh agreed to purchase all shares of Chefs Plate Inc., a meal kit company based in Canada. Details of the transaction were not disclosed, but the combined companies pegged targeted revenues of approximately C$200 million.
Chefs Plate is a leading provider of meal kits in Canada. In March, the company launched 15-minute meal kits featuring fresh, par-cooked and pre-cut ingredients to help consumers get dinner on the table in less time.
“Since our launch in 2014, we have pioneered the meal kit market following our clear mission to create meaningful human connections through food,” said Jamie Shea, co-founder and CEO of Chefs Plate. “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 addition to the United States, HelloFresh operates in the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland, Canada and New Zealand. The Berlin, Germany-based company was founded in November 2011 and went public on the Frankfurt Stock Exchange in November 2017. This year, HelloFresh delivered 48.9 million meals to 1.84 million active customers worldwide between April 1 and June 30, according to the company.
“The integration of Chefs Plate is 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,” said Ian Brooks, CEO of HelloFresh Canada. “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.”