Metro is selling its stake in MissFresh--a ready-to-cook meal delivery subscription service based in Montreal. Financial terms of the deal were not disclosed.
MissFresh was started in 2015 by Marie-Eve Prevost, Bernard Prevost and Ritter Huang. The three co-founders retained a 30% stake in the company when Metro purchased a majority interest in August 2017.
A press release issued Monday afternoon said Metro was selling MissFresh to another Montreal-based ready-to-cook meal company called Cook It. Metro's sale is part of a larger transaction involving all of MissFresh's assets.
MissFresh subscribers have been able to pick up their meal kits in store, and Metro even started selling MissFresh meal kits in store alongside its own prepared meal offerings. Despite the MissFresh sale, customers can still pick up their ready-to-cook meals at participating Metro stores, according to the press release.