HelloFresh projects 60% meal-kit market share in Canada in 2019

Significant price drop at Chefs Plate removes cost barrier and improves value for Canadians

TORONTO, Nov. 22, 2018 /CNW/ - Following its recent acquisition of Canadian meal-kit service Chefs Plate, HelloFresh Canada has announced that the new dual-brand meal-kit leader expects to own 60% market share in Canada in 2019. The company also confirmed a revenue projection of $200 million for next year.

"We're also happy to announce a significant price drop for our Chefs Plate meal-kits, which will make our kits more accessible for Canadians. Prices will start as low as $8.99/serving as of early December," said Chefs Plate CEO, Jamie Shea. "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," said Shea.

"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." According to a 2018 study by The NPD Group, "the meal-kit business is among the fastest-growing food segments in the Canadian marketplace."

More and more, Canadians are replacing traditional meal options with meal-kits. NPD also revealed that prior to meal-kits, "47% Of Users would have prepared food at home, 31% Of Users would have purchased food from a restaurant and 18% would have purchase a ready-made meal at the grocery store."

"We are proud to be the Canadian market leader in meal-kits, and to be changing the way Canadians eat," said Brooks.

About HelloFresh Canada

HelloFresh Canada was founded in February 2016. HelloFresh delivers 'cook from scratch' meal plans straight to your door with carefully curated, easy-to-follow recipe cards and locally sourced pre-portioned fresh ingredients in just the right quantities. HelloFresh helps reduce food waste and takes care of the meal planning, shopping, measuring and delivering, leaving time for you to do the fun parts: cooking and eating. HelloFresh caters to variety of needs by offering Pronto, Family, and Veggie boxes. HelloFresh delivers to every province in Canada. HelloFresh delivered 46.5 million meals to 1.84 million active customers worldwide in the three-month period between July 1, 2018 and September 30, 2018.

About Chefs Plate

Chefs Plate is Cooking Made Easy. Chefs Plate delivers pre-portioned ingredients and easy-to-follow recipes right to your door so you can make dinner in 30 minutes or less. Each weekly menu includes recipes for 2-Person, 4-Person, 15 Minute, 30 Minute, Non-Vegetarian and Vegetarian options. As a food-tech company, Chefs Plate is proudly re-inventing the way Canadians eat.

Press contact

Jonathan Motha-Pollock | 514-561-3156

PR Specialist | jonathan@hellofresh.ca

HelloFresh Canada, 110 Spadina Ave., Suite 201, M5V 2K4, Toronto, ON | www.hellofresh.ca

SOURCE HelloFresh Canada