Cooking box shipper Hellofresh is betting on growth: the Berlin-based company wants to expand its ready meals business and is now also on the market in Norway.
The cooking box provider HelloFresh wants to expand its business with ready meals by purchasing the Australian company Youfoodz. The price is around 125 million Australian dollars (around 79 million euros), the Berlin-based company, which is listed on the MDax, announced on July 13, 2021. Ready-to-eat meals have experienced rapid growth in Australia, it was said. In addition, Hellofresh is expanding to Norway.
“With our cooking boxes, we offer them the most flexible range with the best price-performance ratio on the market, bringing a first-class product to Norway. Our goal is to become the cooking box provider of choice,” explains Thomas Griesel, co-founder of HelloFresh. “Norway is already an established market for cooking boxes. Following our strong business development in Denmark and Sweden, we are convinced that Norway offers ideal conditions for further growth, and we can further expand our total addressable market.”
The company will significantly expand its production capacity in Germany and Austria. In mid-May, ground was broken for a new production facility in Barleben near Magdeburg. The operation is expected to start in the fourth quarter of 2022 and will more than double the current production volume for HelloFresh in Germany and Austria, it said.
The Barleben site complements the existing production facility in Verden on the Aller, where all HelloFresh cooking boxes for Germany and Austria have been produced since 2016. At the site, which is located near the Magdeburg freeway intersection, HelloFresh will prospectively create around 1,500 jobs for the region, a spokesperson said. With more than 35,000 square meters of production, warehouse and office space, the largest production facility in the international segment (all markets except the USA) of the HelloFresh Group will be built in Barleben.