HelloFresh Rebuts Claims in Grizzly Research Report

HelloFresh SE has dismissed allegations made in a Grizzly Research report dated November 6, 2025, which criticized the company's performance, governance, and business outlook. HelloFresh argues that the report's claims are misleading and lack factual basis. The company maintains that its governance and transparency practices are sound, contrary to suggestions in the report.

Specific allegations include founders extracting value at the expense of shareholders, a claim HelloFresh strongly denies, citing compliance with all regulatory requirements. Another point of contention is the report's assertion that HelloFresh's business model is failing, which the company refutes by highlighting its efficiency strategy and customer satisfaction metrics.

HelloFresh also denied using share buyback programs to avoid margin calls, noting the program's benefits for shareholders. The report's narrative about insider trading and brand damage was similarly rejected by the company as baseless.