Fresh Prep Foods Inc., a Canadian meal delivery service, has announced that it has secured court approval to acquire its struggling competitor, Goodfood Market Corp.
While Fresh Prep did not reveal the financial terms of the acquisition, it indicated that the transaction is anticipated to finalize on or around Friday.
Upon completion of the acquisition, Fresh Prep plans to start serving approximately 30,000 customers from Goodfood.
This summer, Goodfood sought creditor protection from the Superior Court of Quebec in an effort to undergo a restructuring process, either under new ownership or with assistance from investors.
Founded in 2014 in Montreal, Goodfood is recognized for offering pre-portioned ingredients and recipes that customers can use to prepare meals.
Fresh Prep, which began operations in Vancouver in 2015, follows a similar business model and acquired another meal kit provider based in Montreal, Cook It Recipes Inc., in 2024.