US food consultancy True Meal Innovations has bought your assets of Chef’d, days following your meal kit firm dangling operations after failing to obtain more funding.
True Family Enterprises-owned Legitimate Food Innovations has obtained all the company’s assets, including plant, property, equipment, brand name intangible assets for an undisclosed amount, together with plans to consolidate them into the existing businesses of Legitimate Food.
Chef’d products will continue to be purchased US grocery stores, but the business’s e-commerce offering will be suspended.
The food kit company was worth around $160 million in its most recent funding round last year. The more than 350 employees C a few of which worked at its stores in Brooklyn, New York, and California C informed that the company was closing earlier this week.
Just a month ago Chef’d unveiled it would start selling it is meal kits in 30 Duane Reade and also Walgreens stores in the New York location.
True Food Innovations president John Jones, who previously dished up as senior vice president of economic development at Chef’d, stated: “We are looking forward to working with manufacturers and former customers as we restructure and operate a Chef’d assets.
“We have undoubtedly developed and are in market with long shelf-life retail meals kits under the brand of Genuine Chef, so we seized the opportunity to acquire the assets and label of Chef’d as the transaction will be accretive to our business from the first day.
“We believe the retail route will continue to grow and we will emphasis our efforts on that aspect of the Chef’d business.”
True Food Innovations provides manufacturing services, complete product development and high pressure digesting packaging solutions.