A core holding for him.  He participated in the new issue.  They have market share estimated at 40%.  A very well managed company.  They have much higher customer loyalty and lower customer turn than others.  They are managing their costs.  They are spending a lot in marketing.  They are investing in the growth of the business to get greater market share.  It is cooking for dummies.  He thinks they will do very well and could get acquired by a big grocery chain.

This is in the new, emerging "meal kit" business. The concept is interesting. As people's lives get busier and they don't want to order in every night, this concept is gaining steam. There are a number of upstart companies in the US that have been growing very rapidly. This company has done a great job of growing their subscriber base and revenues, and is a very interesting company to watch. However, it is early stage and not making a lot of money. You have to look at this as a 3-4 year investment. He is watching and monitoring this with interest.

They have about 40% of the market.  They disclosed there are up to 31k subscribers.  They just went public in June.  They are full of cash and now increasing their distribution facility in Montreal 10 fold.  They will open a facility out west next year.  It would make sense for a large grocer to acquire this one to get into the business of direct delivery to the home.  They have great management.  (Analysts’ target: $2.63).