French Canadian meal kit service, Cook It, has expanded its meal solutions portfolio with the CAD 10 million ($7.8 million) acquisition of ready-to-eat company Locaal.
The transaction includes a new 10,000-square-foot facility in Longueuil, Quebec, which features a kitchen and meal prep area that Cook It will use to assemble its new ready-to-eat meals. Cook It says that it is the first in the industry to offer both ready-to-eat and ready-to-cook meals as part of its subscription service.
Patrick Chamberland, co-founder, CFO and COO of Cook It, said: “…this acquisition will allow us to offer our customers a new range of local, responsible and seasonal products. This third acquisition was made possible with a CAD 10 million investment from the Fonds de solidarité FTQ.”
He continued: “The acquisition is perfectly aligned with our growth strategy and we are excited to expand our ready-to-eat offering while preserving the Cook It seal of quality. The team at Locaal has built a great central kitchen and we look forward to adapting it to meet the needs of our growing customer base, who are always looking for new and better ways to eat.”
© FoodBev Media Ltd 2022
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