Equifruit is proving that responsible sourcing and paying farmers fairly can translate to category growth in the banana aisle. For the second year in a row, the Montreal-based, Fairtrade International-certified business has secured a spot on The Globe and Mail’s list of Canada’s Top Growing Women-Led Companies, landing at No. 21 and signaling a major shift in how North American retailers approach the price-sensitive banana category.
Launched in 2025, The Globe and Mail ranking recognizes women-led businesses demonstrating strong, sustained revenue growth. As a Certified B Corp operating across North America, Equifruit says it integrates fair trade standards in its commercial strategy while expanding its footprint in one of the most competitive categories in fresh produce.
Since 2019, The Globe and Mail has also ranked the top growing companies in Canada — a larger list of 400 companies versus the women-led list of 44 companies — on which Equifruit has also nabbed a spot for the past four years.
“On the one hand, it’s always lovely to get recognition, and on the other, I think it’s a bit of a learning moment to think about what a comparatively small number of companies are women led and to reflect on the challenges that must be facing female entrepreneurs for there to be so few of us,” says Jennie Coleman, president and co-owner of Equifruit. “I’m proud to be part of the few. I would just love to see more.
“I think women still face all kinds of barriers,” Coleman continues. “These are not necessarily barriers that I faced, but in access to capital, in mentorship opportunities, in being in a room where your voice is heard and accepted and encouraged — that’s a big one, and that’s the one I feel is most constraining.”
Tariffs Make for a Tough Year
As The Globe and Mail’s top companies recognitions are based on the past three years of consecutive growth, Equifruit’s place on both lists is all the more meaningful given the company’s 2025 tariff woes.
“Last year was a tough year for Equifruit,” Coleman says. “I think it was a tough year for everybody, but the tariffs were challenging and our sales were more or less flat.”
For Equifruit, which imports its fair trade bananas from Ecuador, Peru, Colombia and Mexico, the April 5 baseline tariff of 10% the Trump administration imposed on nearly all countries slowed the momentum it had been building in the category for the last 20 years.
“You start to feel that you’re never going to make another sale, unless we do more of this advocacy that makes grocery decision-makers aware of the problem Equifruit is trying to solve with fair trade bananas,” she says.
Those tariffs were lifted in early November but not before the grocery industry learned a key lesson: bananas — a longtime loss leader — can command a higher price that consumers won’t hesitate to buy.
“Banana prices can rise, as we saw through tariffs, and the sun will still come up and people will still purchase them,” says Coleman, who notes
Equifruit has made some important gains at retail in a post-tariff North American trading landscape.
Growth at Retail
Equifruit’s expansion has been supported by retail partnerships across Canada and the U.S. Most recently, the company announced a new partnership with Canada’s Pattison Food Group, further strengthening its national presence.
Coleman says Equifruit’s growth is testament to retailers investing in “future-proofing their supply chains” with a women-owned, fair trade banana brand.
Its organic banana programs with Costco Wholesale Canada and Walmart Canada continue to grow, which Coleman says underscores retailer confidence in fair trade bananas as a values-driven offering in the produce aisle.
Advocating for Responsible Business
By connecting North American retailers and consumers with Fairtrade International-certified bananas, Equifruit says it contributes to a system designed to support farmers and workers as well as more equitable participation and leadership in agriculture.
To date, Equifruit has delivered over $5.5 million in fair trade premiums to Fairtrade International-certified banana growers and their communities.
Equifruit says these funds are democratically managed by the growers and invested in locally determined priorities such as education, health care, infrastructure and initiatives that advance gender equity and worker protections.
Women in Produce
Coleman sees The Globe and Mail Top Women-Led Companies list as an important recognition but thinks there’s still room for more women to lead in produce and other industries.
“I think the fact that The Globe and Mail has made this subset of women-led companies is a great start, because I think it offers role models for younger people,” she says.
The fair trade banana exec and her husband, Hugues Jacquin, who joined Equifruit as general manager last year, are both serving as role models. And Coleman says while she lacked a wealth of examples of women leading businesses in her childhood, she’s confident that won’t be the case for her children’s generation.
“I know it’s different for my kids, and I hope it’s different for all younger women,” she says. “They see you can have this cool, growing business that’s led by your mom. And you know, in our case, dad happens to have joined the company, but he’s joined mommy’s company. We just need these examples to be held up.”
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