Muscle Maker Inc. (GRIL) stock recently traded at $2.21 which is a %9.05 downward movement. The GRIL stock previously closed at $2.43.
The recent negative movement in the GRIL stock price comes adjacent to the news of the Meal Planner Company announcing the merger of Superfit Foods, LLC.
What kind of company is Muscle Maker Grill?
Muscle Maker Grill is a fitness and diet-based healthy food serving company. It is a unique concept of a prepared meal plan company that specializes in all assortments of lean and protein-based food. The customers targeted are usually fitness and diet-oriented who are given freshly prepared customized meals of their liking. Muscle Maker Inc. has two subsidiaries known by the name of Muscle Maker Grill and Muscle Maker Corp, LLC.
These meals contain all-natural foods that range from whole wheat pasta, wraps, steaks, turkey, chicken, and a lot more. It offers a similar healthy range of ingredients in its smoothies and shakes. To capture the health and fitness market it diversifies its product offering by including protein powder and supplements.
Muscle Maker Grill’s operational expansion
Muscle Maker Grill has recently partnered with Happy Meal Prep to deliver its prepared meals right to the doors of the customers. GRIL has recently launched “healthier for you” means that it wants to market through this partnership.
Now, GRIL stock has acquired SuperFit Foods which is also a unique meal prep business. SuperFit Foods produced over 220,000 meals in 2020. The average revenue per order for SuperFit Foods is $81.70 and the overall business has grown by double-digit percentages since its startup. MMG will release the specifics of the definitive agreement in 8k which will include the stock and cash transactional value.
SuperFit Foods’ and Muscle Maker Grill’s unique business model match perfectly!
SuperFit Foods is a good-fit for GRIL stock due to its unique subscription-based business model. The customers can order their customized meals via the company’s app or website. Furthermore, its innovative model allows for customers to conveniently pick up their fully-prepared meal or juices from refrigerators/coolers in any of the 28 partner gyms and wellness centers. Apart from that, customers can avail of home delivery or shipping anywhere in the USA.
Muscle Maker Grill can align the same “healthier for you” marketing strategy, expand it through the acquired SuperFit Foods’ business channel and its partnerships with the fitness centers/gyms. Muscle Maker Inc. is aggressively expanding its operational base by opening up an online business platform, opening ghost kitchens, acquiring and partnering with other meal-preparing companies.
Overall outlook for GRIL stock
MMG’s CEO Mike Roper believes that the market of meal prep is vast but fragmented. This statement is reflected by the total market evaluation of the meal prep business which was $7.6 billion in 2019. Furthermore, the market is expected to expand by an annual growth rate of 12.8% from 2020 to 2027. MMG has intentions of evaluating other companies in the future to expand its operational basis and capture a wider market. This outlook bears good news for the long-term investors looking to buy into the GRIL stock.