Page 35 - Food&Drink Magazine October 2021

Building the meal kit
Meal kit company Youfoodz is set to combine its three manufacturing facilities under one roof with its new custom build in Berrinba, Queensland. Kim Berry writes.
THE local ready meal market is expected to be worth around $9 billion by 2025, with almost a third of that in the chilled market and 30 per cent of sales through the B2C channel. Youfoodz growth is testament to that, with Q3 FY21 net revenue up 18.2 per cent on the previous corresponding period and its app-based transactions up by 121 per cent.
Global player HelloFresh certainly believes in its potential and acquired Youfoodz in July for $125 million. Youfoodz founder and CEO Lance Giles will stay at the helm and oversee a project that hasbeenintheplanningfor
some time – a 13,700 square metre facility that will bring its capacity to around 1.1 million meals a week.
The company announced in September it had signed an Agreement for Lease and Lease (collectively, the Lease Agreements) with Logos Property to construct and lease a new ‘best in class’ production facility at Berrinba, Queensland.
It will combine Youfoodz’ three existing production sites, together with its marketing, administration and distribution locations into one custom built site.
Giles says: “This is a significant project in the evolutionofYoufoodz.Once
commissioned,
the new facility
will materially
increase our capacity
for growth, improve efficiency, deliver world
class food and employee safety, and achieve improved energy efficiency and environmental sustainability through a modern purpose- built design.”
Bringing all its Brisbane based employees under one roof will also bring employee culture and collaboration benefits, Giles says.
Under the terms of the Lease Agreements, Logos, as landlord, isresponsibleforconstruction
and associated build costs (based on Youfoodz
design requirements), while Youfoodz will contribute approximately $15 million to plant and equipment.
Construction is expected to begin in Q2 FY22 and be completed by Q1 FY23, when Youfoodz will enter into a long-term lease agreement over thesite. ✷
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www.foodanddrinkbusiness.com.au | October 2021 | Food&Drink business | 35