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With its acquisition of Chefs Plate, HelloFresh aims to become Canada’s market leader in meal kits.
Toronto-based HelloFresh Canada said it expects to garner a 60% share of the meal kit market next year, with projected revenue from the two brands totaling $200 million (Canadian).
HelloFresh Canada, part of Berlin-based HelloFresh, bought Chefs Plate for undisclosed terms last month. The company said it expects to leverage its global scale and realize synergies to spur growth and bolster the brand positioning of Chefs Plate.
"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," Ian Brooks, founder and CEO of HelloFresh Canada, said in a statement. "The 2019 projections on revenue and market share only reinforce the market data that's been released on meal kits."
Citing research from...