business news in context, analysis with attitude

The Austin Statesman reports that My Fit Foods, one of the earliest companies to get into the healthy, ready-made meal kit business, eventually operating out of 80 storefronts in five states, closed down about a week ago.

“We know that you have depended upon us to support your healthy habits, and we are deeply sorry for any inconvenience our closure may have caused you,” the company said in a prepared statement.

The San Antonio Express News writes that the company "sold prepackaged, low-calorie meals such as pasta with ground turkey; zucchini served with chicken breast, pesto and sun-dried tomatoes; spinach and chicken enchiladas; and chicken Parmesan." The company had "secured a confidential sum from the American Farm Bureau Federation to fund the company’s growth strategy and pursue partnerships with grocers alongside majority investor Marlin Equity Partners, the company said in a September news release."

However, the company also experienced some executive turmoil when its CEO was arrested for possession of a controlled substance and had to be replaced.
KC's View:
I have to be honest here. While I knew of the company, it wasn't really on my radar ... and yet, I've gotten a bunch of emails from readers about how dismayed they are by this closing and what big news it was. I'll take that on faith. The one thing I would suggest is that the demise of one company does not spell doom for the entire segment, and Forbes notes that while My Fit Foods has been closing stores, "its closest competitor, Snap Kitchen, is opening them. Last October, My Fit Foods closed its three stores in Chicago. Snap Kitchen has six in Chicago underway."