Goodfood

What Goodfood does

Goodfood Market Corp. is a Canadian direct-to-consumer meal kit and grocery e-commerce company, headquartered in Montreal, Quebec, and publicly listed on the Toronto Stock Exchange (ticker: FOOD). Founded in 2014 by Jonathan Ferrari and Neil Cuggy, the company delivers pre-portioned meal kit ingredients, ready-to-eat and ready-to-heat meals, and a range of grocery products to households across seven Canadian provinces and the Maritimes via a weekly subscription model, supplemented by a la carte ordering through its website (makegoodfood.ca) and proprietary iOS/Android mobile apps. Revenue is generated through recurring subscription billing, per-order delivery fees (CAD 10.99 standard, CAD 13.98 rural), transaction fees on frozen items, an optional Goodfood+ paid membership, and ancillary B2B revenue from the GoodBusiness program (employee perks, media sales, partnerships). The company emphasizes locally-sourced Canadian ingredients (80+ suppliers), B Corp certification, and what it describes as the first fully electric refrigerated delivery fleet among Canadian private companies.

The operational footprint includes manufacturing capacity in Calgary, a micro-fulfillment centre in downtown Toronto, and the suspended Saint-Laurent, Quebec facility (CFIA Safe Food for Canadians licence suspended December 30, 2025 over preventative control compliance, with a 90-day corrective window). Goodfood's product portfolio spans the core meal kit subscription, the relaunched "NEW Bigger Portions" line (2026) targeting guaranteed leftovers, a Heat & Eat sub-line with ~2.5-minute prep times, and the November 2024 acquisition of Genuine Tea extending into beverages. The company supports its consumer base through a 1.6M-strong email list, referral programs (CAD 35 credit per referral), brand ambassador partnerships (e.g., Nick Suzuki), and a recently appointed KPMG LLP audit relationship consistent with TSX governance standards.

Financially, Goodfood is in a clear downsizing phase: revenue declined from approximately CAD 300M in 2021 to CAD 87M in 2025 (-71% peak-to-date), with Q1 2026 net sales of CAD 27.5M (-21% YoY) and Q2 2026 of CAD 22.5M (-26% YoY). Active subscribers contracted from a historical 1.7M+ household base to 59,000-66,000 across 2026. Both co-founders exited the business by early 2026 (Ferrari in September 2025, Cuggy in January 2026), and Selim Bassoul was appointed CEO in February 2026 while retaining the Chairman role. The new leadership has implemented a strategic reset focused on cash generation and cost discipline, with the CEO and President voluntarily forfeiting fiscal 2026 base salaries; Q1 2026 showed positive adjusted EBITDA of CAD 1M and positive free cash flow of CAD 1.2M, alongside a 270 bps gross margin improvement to 42.3%, indicating potential stabilization at a materially smaller scale.

Name

Goodfood

Legal name

Goodfood Market Corp.

Website

https://makegoodfood.ca

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

Goodfood Market Corp. is a Canadian public meal kit company that delivers pre-portioned ingredients, ready-to-eat meals, and grocery products to households across Canada via a subscription-based e-commerce platform and proprietary iOS/Android apps.

Ownership category

akta.pro rank

Product category

Online Meal Kit Delivery

SIC

Food And Kindred Products (2000), Miscellaneous Food Preparations & Kindred Products (2090), Canned, Frozen & Preservd Fruit, Veg & Food Specialties (2030)

akta.pro primary industry

Direct-to-Consumer Meal Kit Subscriptions (CRAHAJAA)

akta.pro secondary industries

Prepared Meal Subscriptions (Chef-Prepared, Recurring) (CRAHAJAD), Meal kits & subscription meal components manufacturing (AFAKAHAD)

Keywords

• Meal kit delivery
• Online grocery delivery
• Ready-to-eat meals
• Food subscription service
• Home meal solutions

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Meal Kit Subscriptions: Weekly subscription plans for meal kit delivery with flexible plan options. Customers select number of portions and meal preferences, charged weekly on recurring basis. No signup or cancellation fees.
2. Delivery and Processing Fees: Delivery fee of $10.99 per order, rural delivery fee of $13.98 ($3.99 rural fee plus $10.99 delivery fee), and frozen box fee of $10.99 waived for orders $64.99+ in frozen products
3. Goodfood+ Membership: Optional paid membership program providing free delivery and other exclusive benefits to enrolled customers, with annual/multi-year subscription options
4. Grocery and Ready-to-Eat Products: On-demand delivery of grocery products and ready-to-eat meals available with or without subscription plan
5. Corporate/B2B Sales: Employee perks programs, bulk orders, gift codes, and media sales partnerships with businesses

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Goodfood is a Canadian online meal solutions company that sells weekly meal kit subscriptions featuring pre-portioned fresh ingredients with recipe cards, complemented by ready-to-eat (Heat & Eat) meals and à la carte grocery products. Orders are placed online or via iOS/Android apps and delivered fresh across seven Canadian provinces via the company's electric refrigerated fleet, with an optional Goodfood+ paid membership waiving delivery fees.

Product overview

Goodfood is a Canadian online meal solutions company operating a platform-plus-products model. The core offering consists of weekly meal kit subscriptions (NEW Bigger Portions line featuring larger portions with guaranteed leftovers), complemented by Heat & Eat ready-to-heat meals and on-demand grocery products and ready-to-eat meals. The company offers a Goodfood+ premium membership tier providing free delivery benefits. For business customers, Goodfood operates a B2B program called GoodBusiness offering employee perks, media sales, and partnership opportunities. The company also publishes consumer products including a cookbook celebrating its 10-year anniversary. The platform is accessible via website, iOS/Android mobile apps, and serves customers across Canada with fresh, locally-sourced ingredients.

Differentiator

Problem solved

Functional benefit

Products and services

• Goodfood Meal Kits Weekly subscription meal kits delivering pre-portioned fresh Canadian ingredients with step-by-step recipe cards and videos. Meals are ready in under 20 minutes and sized to provide leftovers for the next day's lunch. Targeted at Canadian families and individuals seeking convenient home cooking.
• Heat & Eat Ready Meals Ready-to-heat prepared meals requiring approximately 2.5 minutes of cooking, available alongside meal kits and grocery products. Designed for customers who want a hot, freshly prepared meal at home without the cooking effort of a meal kit.
• Grocery Products On-demand grocery items including sauces, condiments, snacks, produce, meat, and seafood, available with or without a subscription plan and delivered alongside meal kits. Aimed at consumers who want to top up their meal kit orders or shop for staples through the same delivery service.
• Ready-to-Eat Meals Fully prepared meals ready for immediate consumption, available alongside meal kits and grocery products. Fresh ready-to-eat meals are intended to be consumed within four days of delivery.
• Goodfood+ Membership Optional paid membership providing free delivery and other exclusive benefits to enrolled customers. Includes membership tier tracking, billing management, and renewal/cancellation features for the customer's account.
• Employee Perks (GoodBusiness) B2B corporate program offering employee meal perks including discount coupon codes, bulk orders, and continuous discount plans for businesses to differentiate their brand, support employee wellness, and retain employees.
• Media Sales (GoodBusiness) B2B media sales offering consumer brands product sampling campaigns, flyer distribution, packaging inserts, recipe sponsorship, and co-branded email marketing to reach Goodfood's customer base within meal kit boxes.
• Partnerships (GoodBusiness) Collaboration opportunities for brands and influencers, including influencer collaborations, a formal affiliate program (via CJ Affiliate), and direct sales events designed to grow the partner's audience through Goodfood.

Quantifiable outcome

• 33% fewer carbon emissions compared to grocery store shopping
• +5 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Breakfast Club of CanadacoreStrategic or Co-development Partner · 1 January 2017Partnership since 2017 to fight food insecurity and feed the potential of thousands of Canadian children through nutritious breakfast programs
• Second Harvest CanadaminorStrategic or Co-development PartnerCollaboration to divert food waste and support households in need across Canada
• CascadescoreTechnology or IntegrationPartnership with Quebec-based packaging producer Cascades (ranked 20th most sustainable corporation in the world by Corporate Knights) for sustainable packaging solutions
• Bullfrog PowerminorStrategic or Co-development PartnerCarbon offset partnership to offset emissions of meal kit deliveries
• Les EmissionsminorStrategic or Co-development PartnerCarbon offset partnership for sustainable operations
• Nick SuzukicoreGTM or Marketing PartnerBrand ambassador partnership with Montreal Canadiens captain to inspire Canadians to live their best lives through healthy eating
• Chef Joseph ShawanaminorStrategic or Co-development PartnerPartnership to bring Ontario Indigenous-Style Bison Meatballs featuring authentic Indigenous cuisine to the menu
• 8Acres FarmscoreStrategic or Co-development PartnerOrganic Canadian beef supplier from Manitoba where organic and animal welfare standards are incredibly high
• Quebec FarmscoreStrategic or Co-development PartnerLocal Quebec farms supplying premium radishes, turnips, and other seasonal produce for meal kits
• Enviro Mushroom FarmminorStrategic or Co-development PartnerAward-winning Ontario organic mushroom supplier providing specialty mushrooms for recipes

Scale indicators17 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Blue Apron: US-based meal kit subscription company. Comparable business model, subscription mechanics, and recipe-card-based meal kits though operating in a different geography.
• Chef's Plate: Canadian meal kit company owned by HelloFresh. Directly competes with Goodfood in the Canadian market with similar subscription model, meal kits, and ready-to-eat offerings.
• HelloFresh: Global meal kit subscription leader operating in multiple countries. Direct competitor to Goodfood in the DTC meal kit subscription category with similar weekly subscription model and recipe-card format.
• Fresh Prep: Western Canadian meal kit delivery service based in Vancouver. Competes with Goodfood in BC and Alberta markets with similar subscription meal kit model.
• Cook It: Montreal-based meal kit and ready-to-eat meal subscription service. Most direct Canadian competitor with overlapping Quebec market presence and similar product offering.
• Martha Stewart & Marley Spoon: Meal kit subscription service offering branded chef recipes. Comparable meal kit subscription business model with similar weekly delivery cadence and recipe customization.

Emerging players

• SkipTheDishes: Canadian food delivery platform owned by Just Eat Takeaway. Adjacent competitor offering prepared meal delivery from restaurants, partially overlapping with Goodfood's Ready-to-Eat category.
• Factor (formerly Factor 75): Prepared heat-and-eat meal delivery service owned by HelloFresh. Competes with Goodfood's Heat & Eat and Ready-to-Eat categories rather than meal kits directly.

Broad incumbents

• Maple Leaf Foods: Canadian packaged food manufacturer with prepared meals and protein offerings. Operates in adjacent food manufacturing space as supplier competitor and prepared meal provider.
• Loblaw Companies: Canada's largest grocery retailer with extensive prepared meal offerings under President's Choice and other brands. Competes in the prepared meal and grocery space with the scale advantages Goodfood cannot match.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/goodfoodca
• Instagraminstagram.com/goodfoodca
• Xx.com/goodfood_ca
• LinkedInlinkedin.com/company/goodfood-market

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds6 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Goodfood