Canadian Imperial Bank of Commerce, Desjardins Capital Markets and Investissement Québec expanded credit facilities by $21 million for Goodfood Market, an online Canadian grocery and meal kit company.
The facilities total $67 million and include the upsize of the company’s current revolving credit facility by $15 million as well as $6 million in additional short-term financing.
“We are thrilled to have gained additional financial flexibility to support our growth and strategy. As we look to increase selection and delivery flexibility to our subscribers, Goodfood is pleased to count on such strong and reputable financial partners,” Jonathan Ferrari, CEO of Goodfood, said. “We will soon have access to over $200 million of liquidity, providing us with the balance sheet and the platform to continue executing our strategic plan. The grocery industry continues to shift online at an accelerating pace, and we are ideally positioned to gain market share and penetrate an increasing number of households from coast to coast.”
