GrubMarket Acquires Vega Produce; Mike Xu and Alejandro Toro Comment

Tue. May 10th, 2022 - by Lilian Diep

SAN FRANCISCO, CA - Vega Produce is the latest fresh produce supplier to join GrubMarket’s portfolio, as the wholesaler has elevated its growth strategy with yet another acquisition.

Mike Xu, Chief Executive Officer, GrubMarket“Vega Produce is an outstanding food distribution business most well-known for their specialty and exotic Asian fruits and vegetables, and their strong supplier and grower networks across Central and South America,” said Mike Xu, Chief Executive Officer of GrubMarket. “Alejandro and the exceptional team at Vega Produce have scaled the company to double-digit, year-over-year revenue growth, with a dominant position as the number-one importer on the East Coast. In addition, they have always been a leader in food safety practices, having received numerous major certifications. This acquisition enables GrubMarket to further strengthen its presence on the East Coast and officially enter Florida, which is a key market for food distribution. We are thrilled to welcome the Vega Produce team to the GrubMarket family.”

Founded over 13 years ago, the Miami, Florida-based company provides high-quality Asian fruits and vegetables sourced from nearly 40 countries worldwide. Since its inception, it has evolved into a full-service food distribution and wholesale business with warehouse operations covering over 50,000 square feet in space.

After the acquisition, the business will continue to be managed by its current experienced and mission-driven leadership team, as noted in a press release.

GrubMarket continues its acquisition spree with the addition of Vega Produce, further strengthening its presence on the East Coast and entering the Florida market

“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 Alejandro Toro, President of Vega Produce. “Our true north is to continue to sustain, nourish, and feed countless families, and we are blessed to make a valuable contribution to this country, our families, our customers, our vendors, and beyond. We strive to be the most reliable distributor of the highest quality products for our customers across the nation, and we also offer access to a best-in-class grower network across North and South America. We are thrilled to learn that GrubMarket shares these goals 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. We sincerely look forward to joining the GrubMarket team and to bringing more high-quality specialty and exotic food products to GrubMarket's end customers.”

To read more about GrubMarket’s latest acquisition, click here.

To keep a tab on the industry titan’s ongoing expansion in the fresh produce space, leave a tab open to ANUK.

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