Daily Newsletter

18 September 2023

Daily Newsletter

18 September 2023

Canuck Eats weighs purchase of Feastify’s assets

The final decision will be made following a rigorous assessment and board approval.

Satarupa Bhowmik September 15 2023

Canada-based food delivery service provider Canuck Eats is in advanced talks to acquire the assets of compatriot Feastify, a rural food ordering platform.

In a press statement, Canuck Eats said: “The potential acquisition represents a significant step in the company’s mission to ensure every Canadian has access to top-notch food delivery services.”

However, the company’s co-founder, William Tsui, noted that final decisions on a potential deal are subject to various conditions such as a ‘rigorous’ assessment and board clearance.

Tsui said: “From the picturesque mountain town of Canmore in Alberta to the vibrant community of Whitehorse in Yukon and the historic city of Brockville in Ontario, Feastify has left an indelible mark.

“We're eager to build upon this legacy and ensure that Canadians from Blackfalds, Brooks, Canmore, Coaldale, Drayton Valley, Edson, High River and all the way to Whitehorse and every town in between can experience the best of Canadian cuisine, pending the successful completion of this deal."

Canuck Eats said that a deal, if materialised, would expand its presence to several areas, including Drayton Valley, Edson, High River, Hinton, Innisfail, Lacombe, Morinville, Rocky Mountain House, Slave Lake, Stettler, St Paul, Sylvan Lake, Taber and Wainwright.

The firm intends to specifically use Feastify's expertise to serve smaller markets.

Tsui added: "The breadth and depth of Feastify's coverage across the country is genuinely impressive. Integrating their reach into our network would offer an even more comprehensive service to Canadians everywhere."

Full-service restaurant (FSR) was the largest profit sector channel in Germany in 2022

Per GlobalData, the Germany foodservice profit sector is expected to grow at a CAGR of >11% during 2022-2027. FSR was the largest foodservice profit sector channel in 2022, with a share of 26.5%, reflecting the popularity of traditional fine-dining experiences among German consumers. Despite the highly fragmented market, pub, club & bar channel is set to record the highest growth during 2022–27, triggered by an increase in transactions and average transaction value.

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