GrubMarket Acquires Terminal Produce
Food technology company GrubMarket is continuing to boost its national food supply chain presence with the acquisition of Terminal Produce, a wholesale provider of high-quality fruits, vegetables and seafood to a wide variety of businesses throughout the greater New York area. The company is GrubMarket’s second acquisition in New York, the first being fresh fruit provider Leo’s Apples Inc. in December 2020.
Founded more than three decades ago by Jung Kim, Brooklyn, N.Y.-based Terminal Produce boasts temperature- and humidity-controlled facilities, and maintains stringent safety and traceability standards. Under the terms of the deal, it will continue to be managed by its current leadership team.
“We are excited to join the GrubMarket family and embrace the new growth opportunities that GrubMarket’s technology and network offer,” said Terminal Produce General Manager Sun Jae Kim. “Customer happiness is the foundation that our business is built on. We are thrilled to learn that GrubMarket shares the same values, and we look forward to joining the technology-enabled platform. Together, we aim to take Terminal Produce to the next level of success.”
Noted Mike Xu, CEO of San Francisco-based GrubMarket: “Terminal Produce’s commitment to quality and exceptional service is a promise that gives every customer confidence in their purchase. For over two generations, Terminal Produce has illustrated a lifelong dedication to serving its customers with the best food safety and quality. Its passionate team brings an incredible variety of year-round product offerings from all over the world. I am excited to welcome the Terminal Produce team to the GrubMarket family as we further strengthen our position in New York. Together, we will build a greater customer base and a stronger supplier network in the food ecosystem nationwide.”
Additionally, Terminal Produce will now be able to use GrubMarket’s proprietary WholesaleWare software suite, a software-as-a-service platform offering food industry suppliers and vendors seamless financial management, easy-to-use online ordering and sales, precise inventory management and engaging CRM tools.
Founded in 2014, GrubMarket provides e-commerce services for businesses and consumers in California, Washington, Texas, Michigan, New York, New Jersey, Missouri, Massachusetts, Oregon and Arizona, with plans to expand to other parts of the country.
