Fonds de solidarité FTQ puts C$10m to work in Cook It

Cook It, a Montreal-based provider of healthy meal kit services, has secured a C$10 million investment from Fonds de solidarité FTQ.

Cook It, a Montreal-based provider of healthy meal kit services, has secured a C$10 million investment from Fonds de solidarité FTQ. The deal’s proceeds will allow the company to modernize its Ville Saint-Laurent factory. Cook It is also backed by District Ventures Capital.

PRESS RELEASE

MONTRÉAL, Oct. 27, 2021 /CNW Telbec/ – Cook it, the Montreal-based company who launched Quebec’s first meal kit in 2014, is pleased to announce a $10 million dollar non-guaranteed investment by the Fonds de solidarité FTQ (the “Fonds”) .

“This is a great moment in Cook it’s history and we are extremely proud to welcome the Fonds de solidarité FTQ as a financial partner. We have an ambitious vision for Cook it and this investment will give us the means to further our mission of being the best way to eat,” says Patrick Chamberland, CFO, COO and co-founder of Cook it. “Since the beginning, we have focused on innovation, sustainability and strong partnerships with local companies to develop our business. The alignment between Cook it’s values and the Fonds’ mission was a natural fit.”

The funding will allow Cook it to modernize its Ville Saint-Laurent factory by investing in operational technologies and automation equipment. In addition to increasing productivity, these efforts will improve the customer experience and allow employees to focus on higher value-added tasks, such as meal kit personalization and quality control.

Recognized by firm Leger Marketing as a Canadian leader in customer experience, Cook it will continue to improve its platform to simplify the lives of its customers. The company will soon be rolling out an improved version of its loyalty program, which is unique in the industry and already very popular with its customers. Committed to building a perfect product, Cook it has recently set up a loyalty department that will launch a series of initiatives in the coming months to surprise its subscribers week after week. Resources will also be allocated to the development of new products to meet the ever-growing needs of its customers in terms of meal kit solutions.

With its strong commitment to sustainable development, Cook it is dedicated to developing more ecological and sustainable solutions for its meal kit. Over the past few years, Cook it has implemented numerous eco-friendly initiatives to optimize certain aspects of its activities, such as packaging, supply, delivery and food traceability. Today, Cook it has two employees dedicated to the implementation of its sustainable development plan.

“We are proud to support Quebec businesses that stand out for their distinctive offering and their commitment to the local economy,” said Patrice Jolivet, Vice President, Investments, Agri-Food and Health at Fonds de solidarité FTQ. “We share the company’s values, and are pleased to support its growth and strategic ambitions, as well as its technological shift. This investment is part of the Fonds de solidarité FTQ’s commitment to invest in a better society,” he concluded.

Finally, Keira Capital Inc. acted as exclusive financial advisor to Cook it in connection with the financing.

About Cook it
As a pioneer of meal kits in Canada, Cook it’s goal is to be the best way to eat. Whether that’s by making you want to cook again, by reducing food waste or simply by taking away the mental load associated with meal planning, Cook it offers meals prepared with the best products on the market.