Goodfood obtains court approval for sale or investment

Montreal meal-kit company Goodfood Market Corp. has obtained court approval for a potential sale or investment.

The company secured bankruptcy protection under the Companies' Creditors Arrangement Act last week.

Goodfood said it had requested that the court approve a formal sale and investment solicitation process. 

The sale and solicitation process allows interested parties to submit proposals for the purchase of or investment in the company or its business and assets.

Goodfood’s assets include organic tea brand Genuine Tea Inc., which the company acquired in November 2024.

No transaction has been selected or approved at this stage, Goodfood said. 

"The Court's approval of the SISP represents a key step in our financial restructuring," said Donald Olds, lead independent director of Goodfood, in a press release. "As the process moves forward, we remain focused on operating the business, serving our customers and continuing to implement our operational turnaround plan."