Goodfood to be sold to Fresh Prep after Quebec court approves CCAA sale
Quebec's Superior Court has approved the sale of nearly all the assets of Goodfood Market Corp., the Montreal meal kit company, to Vancouver's Fresh Prep Foods. Goodfood has been under CCAA creditor protection, a court restructuring rather than a bankruptcy, since 5 August. The deal covers about 30,000 subscribers and should close around 13 November.
Goodfood said on 10 November that the commercial division of the Superior Court of Québec had granted an approval and vesting order for the sale to Fresh Prep Foods Inc. The two companies signed their asset purchase agreement on 2 November, at the end of a sale process supervised by the court and by Raymond Chabot Inc., the monitor. Closing still depends on the usual conditions and is expected on or around 13 November.
After closing, Fresh Prep will begin serving Goodfood's roughly 30,000 active customers, Goodfood said. Fresh Prep co-founder and co-chief executive Dhruv Sood told Business in Vancouver that Goodfood customers in Quebec would start getting Fresh Prep products over the next month and pay a lower delivery fee. The deal also takes Fresh Prep into Saskatchewan, its fifth province. The price has not been disclosed.
Goodfood said Fresh Prep expects to take on a significant number of its employees, but gave no figure. The court also extended the stay of proceedings on 10 November, according to the list of orders on the monitor's website, which told customers they could keep ordering during the restructuring.
Goodfood's stake of about 80% in Genuine Tea, held through 16423132 Canada Inc., is not part of the deal and is being sold separately. What unsecured creditors will recover has not been announced. Court filings and the monitor's reports are posted on Raymond Chabot's website.
Why it matters: Subscribers move to Fresh Prep once the deal closes around 13 November, and staff are waiting to hear who keeps a job. Unsecured creditors have not been told what the sale will return to them.
If this affects you
- Raymond Chabot Inc. is the court-appointed monitor in Goodfood Market Corp.'s CCAA proceedings and posts the court orders, its reports and the creditors' list on its Goodfood page. raymondchabot.com
- The Superior Court of Québec issued the approval and vesting order for the sale to Fresh Prep on 10 November 2026, together with a stay extension order; both are listed on the monitor's page. raymondchabot.com
Sources
- Fresh Prep acquires Goodfood, adding 30,000 customersBusiness in Vancouver, Nov 10
- Goodfood Market Corp.Raymond Chabot Inc., Nov 10
- Goodfood Announces Court-Approved Sale to Fresh PrepGlobeNewswire (Goodfood Market Corp.), Nov 10