US – Farm-to-table food delivery service GrubMarket has acquired New York-based fresh fruits provider, Leo’s Apples, for an undisclosed sum.
Leo’s Apples supplies grocery stores and restaurants in the Mid-Atlantic and New England regions.
Even in its acquisition, leo’s Apples which was founded in 1991 will continue to be managed by its current leadership team under the new ownership.
The deal marks GrubMarket’s first acquisition in New York, and the company says that it plans to continue strengthening its presence in the region.
“Leo’s Apples is a well-respected wholesome fruit provider in New York working directly with a wide spectrum of farmers in and around the region in order to provide high-quality products and services to their customers,” said Mike Xu, CEO of GrubMarket.
“Together, we will build a wider customer base and a stronger supplier network in the food ecosystems of the Northeast.”
GrubMarket says that Leo’s Apples will now be able to use its proprietary WholesaleWare software suite, which offers tools for financial and inventory management, and more.
Leo Rotstein, CEO and founder of Leo’s Apples, added: “We are delighted to join the GrubMarket family and welcome the new growth opportunities that GrubMarket’s technology and network will bring.”
“Delivering the freshest and finest produce has been our mission since day one, GrubMarket shares our same value and spirit, and we are excited to be a part of GrubMarket.”
The acquisition is the latest move in GrubMarket’s national expansion strategy and follows the company’s recent acquisition of Best Fresh Produce.
Back in September, GrubMarket also acquired Fresh Tex Produce, a Texas-based produce supplier, marking the firm’s entry into the Texas specialty food delivery market.
A month later, the New York based food delivery company announced that it had $60 million in a Series D round of funding.
Mike Xu, the founder and CEO, said in an interview that: “The only success criteria of my startup career is whether GrubMarket can eventually make $100 billion of annual sales.”
“I am willing to stay heads-down and hardworking every day until it is done, and it does not matter whether it will take me 15 years or 50 years.”
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