One week after meal-kit company Chef'd unexpectedly shut down, Newport Beach investment firm acquired its assets, the Los Angeles Times reports.
True Food Innovations acquired the assets of Chef'd, including its brand name, plant and equipment, and plans to expand its own meal kit business, True Chef.
Chef'd originally told its employees via email on July 16 that they were closing down that day due to "setbacks with financing." The company sold its meal kits through grocery stores and also offered online ordering and home delivery.
True Food Food Innovations is aiming to make the grocery side of the meal-kit business their main focus, as the delivery side has been proven to be difficult. The Los Angeles Times reports that Chef'd struggled to be profitable amid the costs and complications of shipping fresh food directly to customers.