Fresh Prep Foods Inc., a Canadian meal delivery service, has announced that it has obtained court approval to take over its troubled rival, Goodfood Market Corp.
While Fresh Prep has not revealed the financial details of the acquisition, it anticipates that the transaction will be finalized by Friday.
Upon completion of the acquisition, Fresh Prep plans to start catering to approximately 30,000 existing customers of Goodfood.
This summer, Goodfood sought creditor protection through the Superior Court of Quebec in an attempt to reorganize either under new ownership or with the assistance of investors.
Established in 2014 and based in Montreal, Goodfood is recognized for its service that provides customers with pre-measured ingredients and recipes, which they can cook into meals.
Fresh Prep, which shares a similar business model, was founded in Vancouver in 2015 and expanded its portfolio by acquiring another Montreal-based meal kit provider, Cook It Recipes Inc., in 2024.