Institutional investors join Quebec’s leader in home-delivered, ready-to-eat meals
MONTREAL, Jan. 16, 2020 (GLOBE NEWSWIRE) -- WeCook, formerly Nutrition Fit Plus, is proud to unveil a new name and also announce the conclusion of a $6-million round of funding. WeCook now has the support of institutional investors, such as the Business Development Bank of Canada, Investissement Québec and Desjardins Capital, as it pursues its growth strategy in Quebec while targeting the Ontario market.
A name suited to the business model and target market
WeCook’s new brand image better reflects the company’s business model of ready-to-eat meals delivered to the homes of a large pool of customers who want a healthy meal ready in two minutes. The new name also reinforces the Company’s leading position in the Quebec market for fresh, ready-to-eat, delivered meals that are intended for everyone, not just athletes and fitness enthusiasts, as the previous name may have implied.
“We’re the same company with the same dynamic team that continues to offer high-quality, healthy meals to our customers. We’re proud of our new image, which better highlights what sets us apart, namely ready-to-eat meals delivered to the customer’s home, in contrast to our competitors’ offer, which require kitchen prep time,” said Étienne Plourde, founder and CEO of WeCook.
A team of high-calibre institutional investors
WeCook has completed a new round of financing totalling $6 million with major institutional investors, including the Business Development Bank of Canada, Investissement Québec, Desjardins Capital and a private equity fund. The new investments will be used mainly to enhance the distribution and marketing platform in order to serve the Ontario market, strengthen the talent-acquisition strategy, and pursue research and development.
“The addition of new institutional investors reflects their confidence in our strong business model and experienced team as we pursue our ambitious growth plan and target the highly promising Ontario market. With the financial support and leading-edge expertise of these partners, we’re very confident that we can achieve our goal of becoming the largest company delivering freshly prepared meals across Canada by 2022,” Mr. Plourde added.
Founded in 2013, WeCook (formerly Nutrition Fit Plus) is the Quebec leader in fresh, home-delivered, ready-to-eat meals. The Company’s delivery network extends across Quebec and Ontario and includes about 100 pick-up locations. With more than 150 employees working at its food production facilities in Saint-Hyacinthe and Dorval, WeCook serves close to 20,000 customers through its online sales platform and prepares nearly 670,000 meals a year. WeCook has 65,000 Facebook followers and 26,000 Instagram followers. https://www.wecookmeals.ca
Mélanie Tardif, CPA, CMA