GrubMarket Acquires L&J Produce; Mike Xu and Joanne Chu Comment
NEW YORK - It seems every week we hear of another GrubMarket acquisition, as the wholesaler continues to expand at an aggressive rate. The company recently announced its completed acquisition of L&J Produce, a produce wholesaler in New York. This marks GrubMarket’s fourth acquisition in the state.
"This acquisition enables GrubMarket to reach a hundred million dollars of annual run rate revenue in New York, and further strengthen its producer relationships in the New York Metro Area in many categories. We are excited to welcome the L&J Produce team to the GrubMarket family. Together, we will build a greater customer base and a stronger digital producer network in the food ecosystem of New York and nationwide. We also look forward to working with L&J Produce team to digitally transform their business and operations via our best-in-class software solutions (WholesaleWare),” stated Mike Xu, Chief Executive Officer of GrubMarket.
According to a press release, L&J Produce is a key sourcing channel for fruits and vegetables in the New York Metro Area, and has deep relationships with domestic farms in New England, Florida, and California.
The company was founded in 2010 and supplies a wide range of products including local seasonal fruits, tropical fruits, and Asian vegetables. After the acquisition, L&J Produce will continue to be managed by its current leadership team.
"We are excited to join the GrubMarket family and embrace the new growth opportunities that GrubMarket's software technology and business network can offer. We look forward to joining GrubMarket's technology-enabled eCommerce platform and supplier network. Together, we aim to take L&J Produce to the next level of success,” remarked Joanne Chu, General Manager of L&J Produce.
Where will we hear of GrubMarket’s next deal? AndNowUKnow will be on the lookout for the latest.