GrubMarket, a San Francisco, CA-based foodtech company, completed the acquisition of Regatta Tropicals, a Vineland, New Jersey-based company that distributes, packs, imports and exports high quality fruits to customers across the United States and Canada.
The amount of the deal was not disclosed.
Founded nearly 30 years ago as an offshoot of a company called Coast-to-Coast Produce, and run by its original owner Steve Matych and his wife Teresa Barnes-Matych, Regatta Tropicals provides fruits to retail, chain stores and food service companies across the U.S. and Canada. The company also exports fruit to worldwide locations such as Argentina, Mexico, Brazil, Costa Rica, Japan, Taiwan, Korea, Thailand, Hong Kong and Europe and imports fruit from Chile, Peru, New Zealand, Australia, and Italy, among other countries. Regatta Tropicals currently operates in New Jersey and California, and also provides shipping, repacking and restyling services for its customers.
Across both its West Coast and East Coast operations, Regatta employs nearly 200 people.
After the acquisition, the business will continue to be managed by its current experienced and mission-driven leadership team. As a part of GrubMarket’s portfolio, Regatta Tropicals will now utilize GrubMarket’s WholesaleWare software suite, the company’s software-as-a-service platform that provides food industry wholesalers and distributors with financial management, mobile and online ordering features, precise inventory management, lot traceability and tracking, grower accounting, and automated routing and logistics tools.
Founded in 2014 and led by Mike Xu, CEO, GrubMarket is a food technology company operating in the space of food supply chain eCommerce for both business customers and end consumers, as well as providing related software-as-a-service solutions to digitally transform the American and global food supply chain. Currently, GrubMarket operates in Arizona, California, Connecticut, Georgia, Illinois, Massachusetts, Michigan, Missouri, New Jersey, Nevada, New York, Oregon, Pennsylvania, Texas, Washington and British Columbia (Canada), with plans to expand to the rest of the U.S., Canada, and other parts of the world.
FinSMEs
09/04/2022