Food technology company GrubMarket has completed the acquisition of tech-driven fresh produce supplier SunFed, one of the top importers of squash into the United States. The full-service food distribution and wholesale business has a 65,000-square-foot warehouse and state-of-the-art processing facilities.
“We are excited to join the GrubMarket team and welcome the opportunities brought forth by GrubMarket’s robust technology platform and strong e-commerce supply and demand network,” said Craig Slate, CEO of Nogales, Ariz.-based SunFed. “We are constantly striving to deliver on our promise of Perfect Produce to our customers throughout North America, and also seek to strengthen and grow our best-in-class grower network. We are thrilled to learn that GrubMarket shares this same goal and has built out such a well-integrated and much-needed e-commerce and technology-enabled platform to bring fresh food to so many important customers across the country.”
Mike Xu, CEO of San Francisco-based GrubMarket, added: “SunFed is one of the most trusted brands in the nation for squashes and other dry vegetables, watermelons, cantaloupe, and honeydews. … [T]he exceptional team at SunFed have scaled the company to over $100 million in annual revenues with a strong profitability profile. In addition, they are mission-driven with strong sustainability and food safety practices, which match GrubMarket’s goals and ambitions. This acquisition enables GrubMarket to further strengthen our presence in key markets like Texas and Arizona, while solidifying our position in the food supply chain industry as a technology enabler.”
As a part of GrubMarket’s portfolio, SunFed can make use of its proprietary WholesaleWare, a software-as-a-service platform providing food wholesalers and distributors with financial management, sales and online ordering features, inventory management, lot traceability and tracking, grower accounting, and automated routing and logistics tools.