From CNBC, April 22:
- Fruitist, known for its jumbo blueberries, has surpassed $400 million in annual sales and received backing from Ray Dalio’s family office.
- Sales of its jumbo blueberries alone have tripled in the last 12 months, fueling the company’s growth.
- Fruitist, formerly known as Agrovision, relies on a vertically integrated supply chain and machine learning to produce berries that last longer on shelves.
Berry unicorn startup Fruitist has surpassed $400 million in annual sales, thanks to the success of its long-lasting jumbo blueberries.
The company, which was founded in 2012, announced on Tuesday that it is changing its name from Agrovision to Fruitist. It previously only used the name for branding its consumer products, which also include raspberries, blackberries and blueberries.
As sales of its berries grow, Fruitist has raised more than $600 million in venture capital, according to Pitchbook data. Notable backers include the family office of Bridgewater Associates founder Ray Dalio.
Fruitist is reportedly considering going public as soon as this year, even as global trade conflicts hit stocks and raise fears about a global economic slowdown.
The company has tried to set itself apart in a crowded space in part by positioning its berries as “snackable.” The snacking category has been one of the fastest growing in the food industry in recent years.
While many consumers still enjoy potato chips and pretzels, many big food companies have expanded their portfolios in recent years to include healthier options. The adoption of GLP-1 drugs and the “Make America Healthy Again” agenda pushed by Health Secretary Robert F. Kennedy Jr. have made healthier snacking options even more attractive to both consumers and investors.
Today, Fruitist’s berries can be found in more than 12,500 North American retailers, including Costco, Walmart and Whole Foods. Sales of its jumbo blueberries alone have tripled in the last 12 months, fueling the company’s growth.
Fixing ‘berry roulette’...
