Overview
Local Crate is a premier food and beverage company specializing in meal kits that prioritize local ingredients and feature products from award-winning chefs and local farmers. Established in 2015, and headquartered in St. Paul, USA, the company aims to deliver seasonal meal kits that emphasize quality and locality. Through strategic partnerships, Local Crate connects consumers to authentic cuisine, enriching their dining experience with diverse and locally-sourced ingredients.
Key Offerings and Operations
Local Crate provides a broad array of curated meal solutions, emphasizing the convenience of home delivery. The company's offering includes:
- Authentic Venezuelan Empanadas by Good Fillin.
- Milkjar Perfume Rollers and Diffusers.
- A seasonal assortment of exclusive local snacks, meals, and beverages.
Local Crate is also committed to inclusivity and community involvement, with initiatives such as donating $1 from certain product sales to support inclusive spaces across Canada.
Leadership
The leadership team at Local Crate is composed of experienced professionals driving the company's mission and strategic expansion:
- Frank Jackman, CEO and Co-Founder, has a robust background in category marketing management, honed at Schwan's Company, and leads Local Crate's market expansion across new regions, notably the West Coast.
- Michael Stalbaum, Co-Founder and Chief Culinary Officer, brings over eight years of expertise in culinary nutrition and aims to sustain the company’s focus on providing locally-inspired meal kits.
- Erin Newkirk, formerly part of the executive team, played a significant role in shaping Local Crate's marketing and branding strategies through her extensive experience in strategy and consumer packaged goods.
Financial and Market Expansion
Local Crate has impressively raised $1.4 million in a Seed funding round, supported by Midwestern firms, further emphasizing investor confidence. Moreover, the company has targeted further market penetration, with plans for expansion into Wisconsin and Iowa. The cumulative funding raised by Local Crate stands at $2.57 million, showcasing its growth potential and investor appeal.
Investment and Partnerships
Key investors like Bread & Butter Ventures and Right Side Capital Management back Local Crate. The company consistently seeks new local vendors to diversify its product lineup, ensuring sustainable growth and enhanced selection for their meal and lifestyle products.
Competitor Profiling
Blue Apron
Blue Apron is a leading entity in meal kit delivery, renowned for its fresh, chef-designed recipes and commitment to sustainability via strategic partnerships. Based in New York City, it has a significant market share and is accessible through primary company channels.
HelloFresh
Founded in Berlin and publicly listed on the Frankfurt Stock Exchange since 2017, HelloFresh is the largest meal-kit provider in the United States. They offer meal kits and ready-to-eat meals, with an annual revenue of €7.5 billion in 2023. The company faces and navigates challenges, including market exits and legal issues but maintains a strong international presence.
Home Chef
Based in Chicago, Home Chef delivers tailor-made meal solutions with various offerings, including 35+ weekly options and a #1 customer service rating. With meal kits priced from $7.99 per serving, the company stands out for its convenience and variety.
Green Chef
An acquisition by HelloFresh, Green Chef specializes in organic meal kits with varied plans like keto and vegan. Established in 2014, it is known for eco-friendly and sustainably sourced offerings.
Sunbasket
Operating since 2014, Sunbasket is dedicated to sustainable and health-driven meal kits. Known for USDA-certified organic products and dietary customization, its recent merger with Prüvit Ventures has bolstered its market position.
Industry Trends and Implications
The meal kit delivery sector is competitive, with a growing emphasis on sustainability, convenience, and dietary customization. Companies like HelloFresh and Sunbasket expand their global presence and ready-made meal offerings, while Blue Apron continues refining its traditional kit approach. Local Crate could leverage these trends and differentiate through localized offerings and distinct dietary options to maintain competitiveness.
