Claridge Food Group announces $40 million strategic investment in WeCook Meals

Rebecca R. Ammons

Investissement Québec co-invests $13 million
Desjardins Money reinvests and joins the new financial car or truck

MONTREAL, May possibly 25, 2022 /CNW Telbec/ – Claridge Food stuff Group announces a strategic financial investment of $40 million in WeCook Meals, the major all set-to-consume meals processor in Quebec and Ontario. As component of this main transaction, that is the first expenditure of the fiscal car or truck designed to promote the advancement of Quebec’s foodstuff processing field, Investissement Québec gets a co-investor as a result of a $13 million investment decision, and Desjardins Cash, who experienced participated in two previous funding rounds of WeCook Meals, in 2020 and 2021, reinvests $3 million in the business in addition to becoming a member of the new financial investment car or truck.

WeCook Meals (CNW Group/Claridge Food Group)

WeCook Meals (CNW Team/Claridge Meals Team)

“This significant expense marks a new stage in WeCook Foods‘ progress program. We have knowledgeable potent development around the past number of decades, and this capital injection mixed with Claridge Food stuff Group’s industrial skills will permit us to reinforce our posture as the leading ready-to-eat shipping and delivery firm in Quebec and Ontario and accelerate our expansion throughout Canada. We want to be obviously recognized as the benchmark completely ready-to-take in meal brand name for all Canadians,” says Étienne Plourde, founder and CEO of WeCook Meals.

The Canadian food stuff supply industry mixed with online commerce is increasing at an accelerated pace and was estimated to be really worth around $5 billion in 2021. WeCook Meals stands out for its distinctive giving of fresh new, completely ready-to-consume foods that meet the desires of the escalating amount of people today who want to try to eat properly but really don’t have time to prepare dinner. The firm aims to speed up its yearly gross sales progress (exceeding four million foods in 2021), relying largely on its substantial food items processing expertise, excellent meals, menu customization and digital marketing and advertising excellence.

“We want to elevate recognition of our special presenting to maximize our buyer base and gross profits. Our nimble enterprise model makes it possible for us to take care of the affect of inflation on foodstuff charges, as very well as adapt the alternative of elements presented in our weekly menu. This expenditure will let us to speed up the organized and all set-to-consume food revolution by providing buyers a wider assortment of nutritious, tasty, and convenient meals at reasonably priced prices,” extra Plourde.

“In just a number of many years, WeCook Foods has come to be the top prepared-to-consume firm in Canada, thanks to the assistance of financial partners these as Desjardins Funds and Investissement Québec. The new expenditure we are announcing demonstrates the deep self-assurance of all our associates in WeCook Meals’ eyesight and small business system. We will function with WeCook Meals’ administration to provide them with the economic abilities and management abilities of rising foodstuff processing companies, introducing worth at each and every phase of their advancement,” claimed Pierre Boivin, President and CEO of Claridge.

“The agri-meals sector is a flagship sector of our financial state and one of Investissement Québec’s priority industries to ensure sustainable economic development all through Quebec. We’re very pleased to participate in this round of financing to assistance a younger company like WeCook Meals notice its development strategies and to go on the unifying job we are fully commited to actively playing in the monetary ecosystem, particularly in facilitating entry to development capital,” claims Man LeBlanc, President and CEO of Investissement Québec.

“Our $10 million expenditure in the new fiscal vehicle of Claridge Meals Team allows us to blend Desjardins Capital’s reliability, expertise and agility with the top-edge skills in the food stuff processing sector that this husband or wife provides,” says Marie-Hélène Nolet, Chief Working Officer of Desjardins Capital. “As demonstrated by this joint financial commitment in WeCook Foods, our partnership will enable agri-foodstuff organizations undertake their expansion assignments and prevail over the issues of inflation and source, though remaining suitable to changing purchaser behaviors. We are all the extra very pleased to offer you added leverage to this organization that we have been supporting considering that 2019, constantly in maintaining with the founders’ eyesight.”

Advisors

Raymond Chabot Grant Thornton and Desjardins Funds Markets acted as money advisors to WeCook Foods.

About Claridge Meals Team

Claridge Food Team is an expense motor vehicle designed by Claridge Inc. with the participation of Investissement Québec, the Fonds de solidarité FTQ, and Desjardins Capital. Its mission is to assist Quebec food stuff processing companies with significant progress prospective by supplying them with fiscal methods, managerial and operational help, know-how of worldwide traits, and a substantial network of partners to help and accelerate their expansion in Quebec, Canada and North The usa.

About WeCook Meals

WeCook Meals was started in 2013 by two younger business people who required to commit less time in the kitchen area, without the need of compromising on a significant-quality, healthy diet regime. Foods are curated by an in-house chef, employing only freshest components sourced from neighborhood suppliers in a zero-waste facility. Demand from customers for WeCook Meals’ examine-designed foods have amplified 300% and the Montreal-based mostly firm has correctly made 600 new work opportunities. The Montreal-based mostly firm now has two creation services delivering extra than 4 million foods a calendar year all over Ontario and Quebec. For Hd illustrations or photos.

About Investissement Québec

Investissement Québec’s mission is to perform an energetic job in Quebec’s financial growth by spurring organization innovation, entrepreneurship and business enterprise acquisitions, as perfectly as advancement in investment and exports. Working in all the province’s administrative areas, the corporation supports the generation and progress of businesses of all measurements with investments and custom-made financial options. It also assists enterprises by delivering consulting expert services and other support measures, like technological aid out there from Investissement Québec – CRIQ. In addition, by Investissement Québec Global, it also prospective clients for expertise and foreign financial commitment and helps Quebec companies with export things to do.

About Desjardins Capital

Around 45 several years robust, Desjardins Money has a mission to benefit, guidance and nurture the ideal of Quebec entrepreneurship. With property under administration of C$3.0 billion as of December 31, 2021, Desjardins Money helps add to the longevity of extra than 670 companies, cooperatives and funds in several sectors from throughout Quebec. In addition to assisting to maintain and develop a lot of 1000’s of positions, this subsidiary of Desjardins Team offers organization owners access to a significant small business community and supports their organization expansion. For far more details, take a look at our web site.

About Claridge

Claridge is a Montreal-based mostly household office that signifies the pursuits of the Stephen Bronfman family members, with a aim on maximizing prolonged-phrase money appreciation. Claridge is actively engaged in running a diversified portfolio of investments in non-public companies as properly as interests in 3rd-bash managed cash in a wide variety of industries throughout the world. As a strategic fiscal trader, our direct fairness participations span a array of field sectors, like holdings in foods, know-how, enjoyment, renewable power, and actual estate. Claridge focuses its investments in tiny and medium-sized businesses and contributes its expertise in partnership with administration to accelerate progress.

WeCook Meals (CNW Group/Claridge Food Group)

WeCook Foods (CNW Group/Claridge Meals Team)

Resource Claridge Food Team

Cision

Cision

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