GrubMarket expands into Nevada through Terra Exports acquisition
GrubMarket has completed the acquisition of Terra Exports, a Las Vegas-based company that distributes fresh produce to and from over 65 countries around the world, while handling a very diverse commodity produce portfolio.
Founded in 2012 by Nils Goldschmidt, Terra Exports is a global fresh produce company that imports and exports fresh fruits and vegetables across 65-plus countries, with team members physically located in 13 of these. In addition, Terra has been featured four times on the INC 5000's list of fastest growing U.S. private companies, coming in at 1,086 in 2021. Its tremendous growth over the years has been attributed to its diverse team, which is made up of people from multiple backgrounds. While Terra handles over 50 different products, the company is particularly strong in avocados, cherries, apples, grapes and berries. After the acquisition, the business will continue to be managed by its current leadership team.
"We are excited to join the GrubMarket team and welcome the opportunities brought forth by GrubMarket's robust technology platform and strong eCommerce supply and demand network," said Goldschmidt. "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."
"Terra Exports has such a strong distribution network across the world and offers a catalogue of high-quality specialty produce," said Mike Xu, CEO of GrubMarket. "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. 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."
Lastly, Terra Exports will now be able to utilize GrubMarket's innovative proprietary WholesaleWare software suite, the company's software-as-a-service platform that provides food industry wholesalers and distributors with seamless 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.