GrubMarket has announced the acquisition of Regatta Tropicals, a leading fresh produce provider that distributes, packs, imports and exports fruits to customers acrossthe USandCanada.
Regatta Tropicals operates out ofNew JerseyandCalifornia with freezer and cold storage facilities and services North American retail, chain stores and foodservice companies.
It exports fruit to markets includingArgentina,Mexico,Brazil,Costa Rica,Japan,Taiwan, Korea,Thailand,Hong KongandEurope and imports fruit fromChile,Peru,New Zealand,Australia, Italy and more. It also provides shipping, repacking and restyling services for its customers.
After the acquisition, the business will continue to be managed by its current leadership team headed by owner and chief executiveSteve Matychand his wifeTeresa Barnes-Matych.
Mike Xu, chief of GrubMarket said Regatta Tropicals was a highly respected brand in the fresh produce space for persimmons, figs, pomegranates, peaches, kiwifruit, cherries, apples and grapes.
“Steve and the exceptional team at Regatta Tropicals have scaled the company to tens of millions in annual revenues and have built a strong, defensible business through their repacking and marketing capabilities. In addition, they are mission-driven with strong clean label packing and sustainability practices, which matches GrubMarket's goals and missions,” said Xu.
“This acquisition enables GrubMarket to further strengthen our presence in key markets along both the East and West Coasts, while solidifying our position in the food supply chain industry as a technology enabler for B2B food players. We are excited to welcome the Regatta Tropicals team to the GrubMarket family.'
Matych said Regatta Tropicals was excited to join the GrubMarket team and incorporate GrubMarket's technology platform and e-commerce supply and demand network.
“We strive to be one of the highest quality and most reliable fresh fruit distributors for our customers nationwide, and we also seek to further tap into premier grower networks on both the East Coast and West Coast,” said Matych.
“We are thrilled to learn that GrubMarket shares this same goal and has built such a well-integrated and much-needed eCommerce and technology-enabled platform to bring fresh food to so many important customers across the country. We sincerely look forward to joining the GrubMarket team and bringing more high quality fresh fruit to GrubMarket's end customers.”
As a part of GrubMarket's portfolio, Regatta Tropicals will now utilise GrubMarket's proprietary WholesaleWare software suite, the company's software-as-a-service platform. It provides food industry wholesalers and distributors with financial management, mobile and online ordering features, inventory management, traceability and tracking, grower accounting, and automated routing and logistics tools.