Fruitist Eyes Demand For Healthier Snacks With Jp Morgan Investment

Fruitist is known for its premium statement of jumbo blueberries. Credit: Fruitist/Business Wire

US-based consequence supplier Fruitist has looking to “fuel” its description plans pinch a caller information of backing from backers including JP Morgan Asset Management.

The company, formerly known arsenic Agrovision, has taken successful $150m successful equity financing.

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In a statement, Fruitist said nan backing would thief nan institution “meet soaring user request for healthier, fresher alternatives to processed snacks”. 

JP Morgan Asset Management managing head Brad Demong said: “We judge that Fruitist, pinch power of its worth chain, important integrated maturation opportunity ahead, and positioning arsenic a driving unit of premiumisation of berries and nan better-for-you category, will realise durable description .”

“Consumers are rethinking what they scope for betwixt meals,” Fruitist co-founder and CEO Steve Magami said. “At Fruitist, we’re proving that fresh, flavorful, and nutritious snacks tin standard globally, and that fruit, erstwhile done right, tin genuinely compete pinch nan snack aisle.”

In nan US, nan company’s products are sold astatine retailers including Walmart, Costco and Whole Foods Market.

The business changed its sanction from Agrovision successful April to align its firm personality pinch its flagship user brand.

“Our strategy has invested successful Fruitist successful nickname of nan exceptional results they’ve achieved and nan moat they’ve built astir nan business,” Brad Demong, MD of JP Morgan Asset Management., said. “We judge that Fruitist, pinch power of its worth chain, important integrated maturation opportunity ahead, and positioning arsenic a driving unit of premiumisation of berries and nan better-for-you category, will realise durable description .”

In March past year, nan company, which was group up successful 2012, secured investment from Los Angeles patient Aliment Capital. At nan time, nan institution said nan woody would supply “additional superior and expertise to thief return Agrovision to its adjacent level of growth”.

Headquartered successful California, Fruitist has cultivation operations complete nan authorities separator successful Oregon, arsenic good arsenic successful Mexico, Chile and Peru. Further afield, it has a beingness successful Morocco, Egypt, India and China.