Canada's Leading Meal-Kit Company Tracking Toward $50M in Revenue in 2017
TORONTO, March 1, 2017 /CNW/ - Chefs Plate, one of Canada's fastest growing companies and leader in the highly competitive meal-kit delivery space today celebrates the delivery of 2 million meals to date and announces its expansion into Quebec and Eastern Canada.
Launched in Toronto just 2 years ago, Chefs Plate has experienced rapid growth and unprecedented consumer demand. The Canadian-founded business is on track to hit $50M in revenue in 2017.
"Over the past two years, we have invested heavily in our supply chain infrastructure and technology to meet customer demand. We are able to get Canadians fresher ingredients by cutting out the middle man and reducing food waste from sitting in warehouses and on grocery store shelves," said Chefs Plate co-founder, Jamie Shea.
Today's announcement follows recent expansion from Ontario into Western Canada, including the opening of a fulfillment centre in Vancouver last year. Chefs Plate is experiencing double-digit week-over-week growth in both markets. "This is a capital-intensive business that requires the proper mix of funding, technology and logistics to operate at scale. We're growing rapidly but with a sustainable model that has longevity," Shea said.
Chefs Plate has raised over $10M in growth equity with continued support from its institutional investors to scale its marketing and growth efforts. Investments include Series B funding from InvestEco Sustainable Food Fund II, global investment firm Acton Capital Partners, Emil Capital Partners and BrandProject last year. Funding is used to build infrastructure, technology and invest in Chefs Plate's robust Canadian supply chain. This gives the company an edge because it delights today's discerning customers by providing them with fresher ingredients compared to other options.
"The meal-kit category is poised for significant growth in Quebec and Eastern Canada because of the love of food and appreciation for convenience," said Shea, adding Chefs Plate is partnering with Quebec-based culinary experts and developing the infrastructure for customer support in both official languages.
Earlier this month, Chefs Plate amplified marketing efforts with its first-ever national television campaign running on networks including HGTV and the Food Network. The campaign is aimed at educating growing segments about the company's focus on creating fun and nutritious cooking experiences at home.
About Chefs Plate
Chefs Plate, Canada's leader in the meal-kit delivery market, delivers pre-portioned, locally-sourced farm fresh ingredients and easy-to-follow recipes in refrigerated kits right to its customers' homes, all at $10.95 per plate or less. It's cooking made easy. As a food-tech company, its innovative business model connects people to local farmers and purveyors, investing in Canada's farm-to-table platform. The company was founded in Toronto in 2014 and has grown to over 200 employees. For more information, please visit www.chefsplate.com, or connect via social media on Facebook, Twitter or Instagram.
SOURCE Chefs Plate
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