Goodfood Market Corp (TSX:FOOD)

Food & Beverages

Goodfood Market Corp provides online grocery and dinner subscription services. The firm was launched as a basic meal kit company in 2014 by co-founders Neil Cuggy and Jonathan Ferrari.

The Quebec-based food company delivers grocery and farm-fresh ingredients to customers across Canada. Its online service platform enables the customers with grocery shopping and meal ordering services every day. Goodfood Market provides a broad suite of selected food products containing over 750 items at different price bands.

The company claims to follow a direct-to-customer fulfilment approach that reduces the total product cost by removing the retail overhead cost and wastage cost. Goodfood delivers grocery items and home meal solutions across Canada, including Manitoba, British Columbia, Prince Edward Island, Alberta, Saskatchewan, Ontario, Quebec, New Brunswick, Nova Scotia, and Newfoundland.

The online grocery company has its administrative office in Montreal, and owns six manufacturing facilities in Quebec, British Columbia, Ontario, Alberta. It also owns a production facility in the British Columbia.

In October 2020, the Canadian company launched an unlimited same-day delivery in Greater Montreal Area under the name, Goodfood WOW.

The firm claims that Goodfood WOW service enables the users to order any meal combo, prepared food, groceries, meal kits, preparation meals, etc. In 2021, the company extended the WOW services to Toronto City. In addition, it also aims to further launch the services in key Canadian cities.

On April 7, 2021, Goodfood announced that it had reportedly sold more than 1.1 billion grocery items for the corresponding quarter.

According to its June 2021 reports, the company reportedly has 317,000 active subscribers, which indicates a 17 per cent year-on-year increase.

The online grocery company launched Goodfood mobile application in a bid to increase its customer base, order sizes and sales.

Its stocks are listed on the Toronto Stock Exchange under the symbol ‘FOOD’. Goodfood Market Corp also claims to focus on capitalizing investment opportunities brought by the latest market trends to offer greater value proposition to the customers.

Contact Information

company address 4600 Hickmore Saint-Laurent, Quebec H4T 1K2

company phone855 515-5191

company email[email protected]

company website[email protected]

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