GrubMarket Acquires Terminal Produce to Ramp Up East Coast Footprint; Mike Xu and Sun Jae Kim Share Insights
SAN FRANCISCO, CA - If reading this headline gave you a bit of déjà vu, you’re not alone. GrubMarket has been on a winning streak lately, revealing several key acquisitions in the fresh produce sector. Recently, the wholesaler announced its acquisition of Pacific Farm Management, and now it has pulled back the curtain on the acquisition of Terminal Produce as it looks to expand in the state of New York.
"Terminal Produce's commitment to quality and exceptional service is a promise that gives every customer confidence in their purchase,” said Mike Xu, Chief Executive Officer of GrubMarket. “For over two generations, Terminal Produce has illustrated a life-long 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."
As a result of the deal, Terminal Produce will now be able to optimize GrubMarket's innovative proprietary WholesaleWare software suite, which provides food industry suppliers and vendors with seamless financial management, easy-to-use online ordering and sales, precise inventory management, and engaging CRM tools, according to a company release.
Terminal Produce, which was founded over three decades ago by Jung Kim, is a Brooklyn, New York-based supplier of high-quality tropical fruits and vegetables year-round, serving a wide variety of businesses within the Greater New York Area. Following the acquisition, Terminal Produce will continue to be managed by its existing leadership team.
"We are excited to join the GrubMarket family and embrace the new growth opportunities that GrubMarket's technology and network offer,” said Sun Jae Kim, General Manager of Terminal Produce. “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."
GrubMarket has its sights set on growth within the fresh produce industry, and we at ANUK can only guess that there are even more pivotal strategies on the horizon.