HelloFresh Introduces ‘Factor’ Ready-To-Eat Brand To Canada & More Trending News
HelloFresh has introduced the introduction of its ready-to-eat model, Factor, to the Canadian market, following its profitable rollout within the US.
Factor was acquired by HelloFresh in 2020, and has ‘been on a powerful development trajectory ever since’, the corporate stated.
It is initially being launched to the province of Ontario, forward of its rollout to different provinces within the coming months. All meals obtainable beneath the model, which embrace Calorie-Smart, Keto, Vegan and Vegetarian choices, might be ready at a newly opened facility in Ontario.
Increased Investment
“Doubling down on our investments in the ready-to-eat market and bringing Factor to Canada is a key pillar of HelloFresh’s long-term growth strategy and marks an important step on our way to becoming the world’s leading food solutions group,” stated Dominik Richter, co-founder and CEO of HelloFresh.
He added that with a complete addressable market of $162 billion globally, the ready-to-eat market alternative for HelloFresh is a “significant” one, citing excessive adoption charges of direct-to-consumer meals supply options.
New Meal Occasions
“Ready-to-eat allows us to offer new meal occasions and unlock new customer segments, such as more male customers, single households and convenience seekers,” Richter stated. “We are excited to now convey this well-received and profitable service from the US to prospects in Canada.”
Factor was based in 2012, and is at present the biggest ready-to-eat meal firm within the U.S. by way of market share (Q3 2022: 54.6%), HelloFresh stated.
Read More: HelloFresh’s Jeff Yorzyk On The Meal-Kit Firm’s Approach To Sustainability
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HelloFresh Introduces ‘Factor’ Ready-To-Eat Brand To Canada
HelloFresh Introduces ‘Factor’ Ready-To-Eat Brand To Canada
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HelloFresh Introduces ‘Factor’ Ready-To-Eat Brand To Canada