Berlin / DE. (hf) HelloFresh SE is expanding its ready-to-eat (RTE) brand Factor to Canada. Factor was acquired by HelloFresh Group in 2020 and has been on a strong growth trajectory ever since. The launch in Canada marks the next step for Factor, following its success in the US. Canada has a high adoption rate of direct-to-consumer food delivery services and a growing demand for RTE products. The launch will allow HelloFresh to unlock new customer segments and offer customers an even broader choice of meals, a new type of service and full flexibility.
«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 become the world’s leading food solutions group,» says Dominik Richter, co-founder and CEO of HelloFresh. He continues, «With a total addressable market of $162bn globally, the RTE market opportunity for HelloFresh is significant. 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. We are excited to now bring this well-received and successful service from the US to customers in Canada.»
Factor Canada is available in the province of Ontario as of today and will be expanding into additional provinces in the coming months, which will make the brand Canada’s first nationally-available clean eating meal delivery service. Chef-prepared, dietitian-approved Factor meals are cooked from scratch at a newly opened facility in Ontario using only fresh, natural ingredients, premium proteins raised without antibiotics, and without the use of refined sugar and oils. Customers can choose from more than 10+ recipes per week that fit a wide variety of diets, including Calorie-Smart, Keto, Vegan and Vegetarian, as well as a range of easy-to-add extras.
Factor continues to expand its market leadership position in the US
Factor, which launched in 2012, has spent a decade perfecting its ready-to-eat supply chain in terms of how it sources ingredients, cooks meals, as well as packages and ships them. Since its acquisition in 2020, Factor has been pairing its product development and production expertise with HelloFresh’s world-class direct-to-consumer capabilities and technology infrastructure. Over the last two years HelloFresh has been using its resources and global expertise to further expand Factor’s business across the U.S., gaining market leadership in the process. Factor is currently the largest ready-to-eat meal company in the U.S. in terms of market share (Q3-2022: 54.6 percent).
HelloFresh Group follows its successful multi-brand strategy
HelloFresh Group’s brand portfolio – comprised of HelloFresh, EveryPlate, Chefs Plate, Green Chef, Youfoodz and Factor allows customers to benefit from a diverse and distinct meal offering for every need, occasion, and price point. This multi-brand strategy has enabled the company to significantly grow its total addressable market by unlocking new customer segments. The expansion of Factor to Canada follows the launch of special diet meal kit brand Green Chef in the Netherlands in Q3 2022.