May 13, 2022

GrubMarket Expands Into Florida through the Acquisition of Vega Produce GrubMarket Expands Into Florida through the Acquisition of Vega Produce SAN FRANCISCO — GrubMarket announced it has completed the acquisition of Miami, Florida-based Vega Produce, a highly respected, global fresh produce company that provides the highest quality Asian fruits and vegetables, sourced from nearly 40 countries worldwide. They currently operate in Florida and Colombia (South America) and sell to hundreds of customers across North America and Europe. They also have a strong reputation as a leader in food safety practices. Founded over 13 years ago, Vega Produce is still run by its original owner, Alejandro Toro. Today, Vega Produce is a full-service food distribution and wholesale business with warehouse operations covering over 50,000 square feet in space. Within its product catalog of over 200 specialty and exotic items sourced from Central America, South America, Europe, Asia and Africa, snow peas, sugar snap peas, gourmet Asian vegetables, dragon fruits, papaya and ginger are top commodities. In addition, Vega Produce has adopted sustainability and food safety initiatives like using micro-perforated and leak-free seal packaging to extend shelf life, and has received top food safety certifications such as Non-GMO, NOP, Global Gap and PrimusGFS. After the acquisition, the business will continue to be managed by its current experienced and mission-driven 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. Our true north is to continue to sustain, nourish, and feed countless families, and we are blessed to make a valuable contribution to this country, our families, our customers, our vendors, and beyond. We strive to be the most reliable distributor of the highest quality products for our customers across the nation and we also offer access to a best-in-class grower network across North and South America. We are thrilled to learn that GrubMarket shares these goals and has built out such a well-integrated and much-needed eCommerce and technology-enabled platform to bring fresh food to so many important customers across the country. We sincerely look forward to joining the GrubMarket team and to bringing more high quality specialty and exotic food products to GrubMarket’s end customers,” said Alejandro Toro, President of Vega Produce. According to Mike Xu, CEO of GrubMarket: “Vega Produce is an outstanding food distribution business most well-known for their specialty and exotic Asian fruits and vegetables, and their strong supplier and grower networks across Central and South America. Alejandro and the exceptional team at Vega Produce have scaled the company to double digit year-over-year revenue growth, with a dominant position as the number one importer on the East Coast. In addition, they have always been a leader in food safety practices, having received numerous major certifications. This acquisition enables GrubMarket to further strengthen its presence on the East Coast and officially enter Florida, which is a key market for food distribution. We are thrilled to welcome the Vega Produce team to the GrubMarket family.” As a part of GrubMarket’s portfolio, Vega Produce will now utilize GrubMarket’s innovative and 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. About GrubMarket Founded in 2014, GrubMarket is a San Francisco-based food technology company operating in the space of food supply chain eCommerce for both business customers and end consumers, as well as providing related software-as-a-service solutions to digitally transform the American and global food supply chain. Currently, GrubMarket operates in Arizona, California, Connecticut, Florida, Georgia, Illinois, Massachusetts, Michigan, Missouri, New Jersey, Nevada, New York, Oregon, Pennsylvania, Texas, Washington, Ontario and British Columbia (Canada), and Argentina, Chile and Colombia (South America), with plans to expand to the rest of North America, South America, and other parts of the world.