Chef’d

About Chef’d

Chef'd was a meal kit company founded in 2015 by Kyle Ransford and Jason Triail. Ransford, a proven entrepreneur with a background in investment banking and real estate, served as the company's CEO. Triail, a chef with extensive experience in the culinary world, including roles at Yard House and later as Director of Culinary Innovation for The Habit Burger Grill, co-founded the venture, bringing his food industry expertise. The company was established to provide a more flexible alternative in the burgeoning meal kit market, distinguishing itself by not requiring mandatory subscriptions.

Operating as an e-commerce marketplace, Chef'd allowed consumers to order from a wide selection of à la carte recipes at any time. Its business model centered on partnerships with well-known chefs, culinary personalities, and major food brands like Campbell Soup Co., Coca-Cola, and Smithfield Foods to develop and offer a diverse range of meal kits. This strategy was intended to minimize customer acquisition costs by leveraging the brand equity of its partners. Revenue was generated through the direct sale of these kits, which were delivered to customers' homes in temperature-controlled boxes. The company also expanded its distribution channels by selling kits in brick-and-mortar retail stores, including Costco and Walgreens.

Chef'd secured significant funding, including a $10 million investment from Campbell Soup Co. and a $25 million round from Smithfield Foods in 2017, reaching an estimated valuation of $160 million. Despite its growth and innovative, multi-channel approach, the company faced substantial challenges. The direct-to-consumer meal kit industry was characterized by high operating costs, particularly for shipping, and intense competition, with over 150 companies in the market. In July 2018, after failing to secure a necessary round of financing, Chef'd abruptly ceased operations, laying off its approximately 350 employees. The company's assets were subsequently acquired by True Food Innovations, which planned to focus on the retail portion of the business.