U.S. Markets closed

Goodfood launches reusable delivery box as part of green initiatives to eliminate 12 million pieces of single serve packaging

MONTREAL , Oct. 16, 2019 (GLOBE NEWSWIRE) -- Goodfood Market Corp. (“Goodfood” or “the Company”) (FOOD.TO), a leading online grocery company in Canada, proudly announced today the official launch of its new reusable delivery box. It was developed in close partnership with a Quebec-based company and has already been tested through a pilot in Montreal and Calgary. Over the coming months, the light-weight box will also be used for deliveries in Toronto, Vancouver, Edmonton and Ottawa.

“We are very excited by this game-changing step which positions us as a leader in our industry with respect to environmental sustainability initiatives,” said Jonathan Ferrari, Chief Executive Officer of Goodfood. “We fully recognize the urgency to act in the face of climate change and we know our customers feel the same way. We, as a Company, embrace this challenge and our new reusable box is an important part of our green vision for Goodfood.”

The new reusable box is made of a plastic compound containing 95% of air and was custom-built specifically for Goodfood. It is light, stackable, nestable and has superior insulation capabilities. The box has a patent application pending.

“Once in circulation, each box should have an expected life of approximately four years. At the end of its lifetime, the box will be 100% recycled into new boxes, a key requirement of Goodfood in developing this initiative.” added Philippe Adam, Chief Financial Officer of Goodfood. “The box and its custom, non-toxic ice pack will be collected and sanitized for reuse on a weekly basis. We are very proud of this box! It took hard work and a clear commitment to sustainability to develop it. Over the four years each box is expected to last and based on a conservative 25% adoption rate nationwide, we estimate the use of these new boxes will save approximately 5 million cardboard boxes and 7 million single-use ice packs.”

Goodfood continues to work on additional green initiatives to make its operations even more eco-friendly. “This is a major step in achieving sustainability for Goodfood, but by no means is it the end,” added Mr. Ferrari. “In our last capital raise, we pledged $500,000 of the proceeds to environmental initiatives. The reusable box shows our serious commitment to these initiatives, and we expect to see acceleration in the adoption of online grocery shopping as we lead the way in setting a new standard for our industry.” Goodfood has also committed to reduce its use of plastic inside the box by 50% within the next 12 months.

About Goodfood
Goodfood (FOOD.TO) is a leading online grocery company in Canada, delivering fresh meal solutions that make it easy for members from coast to coast to enjoy delicious meals at home every week. Goodfood’s mission is to make the impossible come true, from farm to kitchen, by enabling members to do their weekly meal planning and grocery shopping in less than 1 minute. Goodfood members get access to a unique selection of products online as well as exclusive pricing made possible by its world class direct to consumer fulfilment eco-system that cuts out food waste and expensive retail overhead. The Company has its main production facility and administrative offices based in Montreal, Quebec, a second production facility in Calgary, Alberta and a third production facility in Montreal, Quebec. Goodfood had 200,000 active subscribers as of August 31, 2019. www.makegoodfood.ca

For further information:

Investors Media
Philippe Adam
Chief Financial Officer
(855) 515-5191
IR@makegoodfood.ca 
Pierre Boucher
President
(514) 731-0000
pierre@maisonbrison.com
   
Roslane Aouameur
Head of Investor Relations
(855) 515-5191
IR@makegoodfood.ca
Jennifer McCaughey
Vice-President, Investor Relations
(514) 731-0000
jennifer@maisonbrison.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fd3ca8b3-dfed-47ac-bea3-7e7dfca783a0