TORONTO – HelloFresh expects to claim 60 percent of the meal kit market share in Canada in 2019 as a result of the company’s acquisition of Canadian meal-kit provider Chefs Plate Inc. HelloFresh also confirmed the company’s revenue projection of approximately C$200 million.
“Looking into the new year, we’re very excited about the growth to come for the HelloFresh and Chefs Plate family, as well as for the meal-kit industry in Canada more broadly,” said HelloFresh Canada CEO and founder, Ian Brooks. “The 2019 projections on revenue and market share only reinforce the market data that's been released on meal-kits.”
In October, HelloFresh agreed to purchase all shares of Chefs Plate, which is a leading provider of meal kits in Canada. Chefs Plate created meal kits featuring fresh, par-cooked and pre-cut ingredients to help consumers get dinner on the table in 15 minutes or less. Jamie Shea, Chefs Plate CEO, announced a price drop for the company’s meal kits which is expected to increase availability to consumers.
“Prices will start as low as C$8.99/serving as of early December,” Shea said. “By lowering cost, we open up meal-kits to Canadians who might’ve seen price as a barrier while continuing to increase the value of our product and long-term customer satisfaction.”
In addition to the United States and Canada, HelloFresh operates in the United Kingdom, Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland and New Zealand. The Berlin, Germany-based company was founded in November 2011 and went public on the Frankfurt Stock Exchange in November 2017.