GrubMarket Announces Acquisition of Terra Exports; Mike Xu and Nils Goldschmidt Comment
SAN FRANCISCO, CA - As evidenced by a slew of key acquisitions in 2021 influenced by an ambitious growth strategy, GrubMarket is a company that seemingly never sleeps. Starting off 2022 in typical GrubMarket fashion, the wholesaler has announced its acquisition of Terra Exports, a global fresh produce provider specializing in imports and exports, giving the company the leverage to stretch its footprint into Nevada.
“Terra Exports has such a strong distribution network across the world and offers a catalogue of high-quality specialty produce. Nils and the top-notch team at Terra have grown the company to do hundreds of millions in sales, which shows how capable the team is and how valuable the company is to their customers and partners,” said Mike Xu, Chief Executive Officer of GrubMarket. “In addition, it has been great to see Terra think outside the box with their Avolicious in-house avocado brand. They’ve also been recognized by INC 5000 several times as a fast-growing company, so we’re thrilled to welcome Terra Exports to the GrubMarket family and achieve rapid sustainable growth together.”
Terra Exports was founded in 2012 by Nils Goldschmidt. Now, the company imports and exports fresh fruits and vegetables across more than 65 countries and has team members stationed throughout 13 of these countries. According to a release, the company has seen tremendous growth over the years, having been featured four times on the INC 5000 list of fastest growing United States private companies.
Through Terra Exports’ diverse team made up of people from a multitude of backgrounds, the company is able to handle more than 50 different products. However, the provider specializes in avocados, cherries, apples, table grapes, and berries. Following GrubMarket’s acquisition of the company, the business will continue to be managed by its current successful leadership team.
“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,” added Goldschmidt, Chief Executive Officer of Terra Exports. “We want to continue being one of the most high-quality and reliable fresh food distributors for our global customers and are thrilled that GrubMarket shares this goal. We sincerely look forward to joining the GrubMarket team and bringing more grower-direct and premium quality goods to GrubMarket’s suppliers and end customers.”
As GrubMarket acquires Terra Exports, the company will be able to utilize the wholesaler’s proprietary WholesaleWare software suite. The software-as-a-service platform provides food industry wholesalers and distributors with financial management, easy-to-use sales and online ordering features, precise inventory management, lot traceability and tracking, grower accounting, and automated routing and logistics tools.
Reinforcing its already sweeping growth strategy, what will be GrubMarket’s next move? AndNowUKnow will keep you in the know.