Fruitist, a Los Angeles-based global superfruit brand known for its Jumbo brand blueberries, has closed $150 million in equity financing that it says will accelerate its expansion at retail, which currently includes distribution in stores such as Costco, Giant, Publix, ShopRite, Sprouts, Trader Joe’s, Wakefern, Walmart, Whole Foods Market and more.
“The funding will support continued expansion of our supply to meet the strong and growing demand for our Jumbo blueberries, which currently exceeds available volume, and to accelerate investment in our technology and AI capabilities, particularly in predicting the fruit’s optimal pick time to ensure superior quality and flavor,” says Steve Magami, co-founder and CEO of Fruitist.
Led by a vehicle managed by J.P. Morgan Asset Management, alongside other new and existing investors, the new capital will fuel Fruitist’s global expansion and help meet soaring consumer demand for healthier, fresher alternatives to processed snacks, Magami says.
The company’s premium superfruits are currently sold in more than 12,500 retail locations across North America and 40 countries worldwide.
Eyeing the $600 billion global snacking market, Fruitist says it aims to set a new standard for what consumers expect from fresh fruit snacking. With this goal in mind, earlier this year, the company introduced Fruitist Snack Cups, single-serve, grab-and-go packs of fresh blueberries.
“Packaging is a significant factor in driving momentum in produce snacking,” says Magami. “Our Snack Cups make it easier than ever for consumers to grab fresh, premium blueberries on the go. It’s bridging the gap between the produce aisle and the convenience of the snack aisle.
“It also demonstrates that design and functionality are crucial,” Magami continues. “Clear, recyclable cups highlight fruit quality while making portioning simple. That format brings new consumers into the category and encourages repeat purchase behavior that retailers love.”
Fruitist says it will continue to innovate in snacking formats and plans to expand its Snack Cup line with the introduction of new premium fruits like blackberries, raspberries and cherries with the same focus on flavor, consistency and convenience it offers in blueberries.
The company has also launched Fruitist Legends, a new SKU of its largest and best berries.
Through partnerships with star quarterback Caleb Williams, USC Athletics, and D.C. United, Fruitist says it’s extending beyond retail shelves, promoting healthier snacking to athletes, students and communities.
From Agrovision to Fruitist
Formerly known as Agrovision, Fruitist has evolved from an agriculture-first enterprise into a global consumer brand, the company says.
“The name change was a strategic move to align the company’s name with our mission and our flagship consumer brand, which was already Fruitist,” Magami says. “Agrovision was our operations name, but ‘Fruitist’ better captures our identity as a global brand dedicated to premium, nutritious snacking.”
Magami says the market reaction has been excellent and recognition is growing rapidly among both retailers and consumers.
“Fruitist is now one of the fastest-growing healthy snack brands,” he says. “Consumer demand is what fuels our growth. We have surpassed $400 million in annual sales and over $1 billion in lifetime sales. This is driven by strong repeat purchase behavior; consumers trust the Fruitist brand to deliver a consistently premium experience every time.”
