GrubMarket Acquires Regatta Tropicals; Mike Xu and Steve Matych Share
SAN FRANCISCO, CA - Fruitful opportunities await GrubMarket in the great state of New Jersey. The wholesaler recently completed its latest acquisition, entering a deal to purchase premier fruit purveyor Regatta Tropicals.
"Regatta Tropicals is a highly respected brand in the fresh produce space for persimmons, figs, pomegranates, peaches, kiwi, cherries, apples, and grapes," said Mike Xu, Chief Executive Officer of GrubMarket. "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. 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."
Regatta Tropicals will now utilize GrubMarket's innovative and proprietary WholesaleWare software suite, which provides seamless financial management, easy-to-use mobile and online ordering features, precise inventory management, lot traceability and tracking, grower accounting, and automated routing and logistics tools.
A full-service produce distribution and wholesale business, Regatta Tropicals boasts of freezer and cold storage facilities that cover over 60,000 square feet in space and repacking operations in both Vineland, New Jersey, and Reedley, California.
"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. 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. 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," said Steve Matych, Chief Executive Officer of Regatta Tropicals.
According to a press release, the company is considered one of the largest volume marketers of Fuyu and Hachiya persimmons in California. In addition, the company supplies figs through its Arizona fig farm.
After the acquisition, the business will continue to be managed by its current experienced and mission-driven leadership team.
Cheers to this exciting industry collaboration!