GrubMarket announces its acquisition of Bengard Marketing, Inc., a longstanding provider of high quality domestic and imported specialty fruits directly from sustainable growers in Chile, Argentina, Peru, New Zealand, and the United States. Bengard Marketing has always been one of the top 2 biggest providers of South American cherries and stone fruits on the West Coast. This is GrubMarket’s sixth acquisition in the Los Angeles area.
WI Harper Group previously participated in GrubMarket’s $60M series D financing in October 2020 and led its $25 million C+ round of financing in April 2019. This is another significant milestone for the company after the acquisition of Best Fresh Produce, Inc. As GrubMarket continues to grow, this also marks its twelfth acquisitions since 2020.
Founded in 2014, GrubMarket is an e-commerce platform that offers foods from local farms, fisheries, commercial kitchens, certified home kitchens, and restaurants at wholesale prices.
In 1978, Jim Bengard, the founder of Bengard Marketing, established the West Coast’s first import program with Chile. Later, programs from Argentina and New Zealand were added. In 2010, Jim’s son Broc Bengard took over Bengard Marketing and continued to build on the values of integrity and honest relations with buyers and suppliers. Bengard Marketing has grown from a 200,000-package import program in the early 1980’s to a 1 million package program today.
This is GrubMarket’s sixth acquisition in the Los Angeles area. The company plans to continue bolstering its strategic presence in the region. Bengard Marketing will remain based in Los Angeles, and will continue to be managed by its current leadership team.
“We are delighted to join the GrubMarket family and look forward the new growth opportunities that GrubMarket’s technology and network will bring. Bengard Marketing built its success with buyers and suppliers on integrity and honesty. GrubMarket shares the same principles we have. Coming together allows us to promote the sustainability of healthy food from farm to fork and grow wherever suppliers and buyers need an honest, hardworking partner. For more than 35 years, it has been our honor to bring quality, freshness and food safety to the marketplace, a tradition to be continued as we move ahead,” said Broc Bengard, CEO of Bengard Marketing.
“Bengard Marketing is a highly reputable specialty fruit provider with a passion for people and produce. They created a business sector of sourcing sustainable fair-trade produce from South America, and have since then been a top provider of cherries and stone fruits from South America. Their customer centric team works directly with sustainable growers in Chile, Argentina, Peru, New Zealand, and the United States to supply high quality fruits to the US market. We are thrilled to welcome them to the GrubMarket family. Together, we will strengthen our customer base and extend our grower network to Latin America and Oceania. Their deep insights of cross-continent food supply chain, logistics and warehouse management will also benefit the evolution of our software technology,” said Mike Xu, CEO of GrubMarket.
Lastly, Bengard Marketing will now be able to utilize GrubMarket’s innovative proprietary WholesaleWare software suite, the company’s Software-as-a-Service platform providing food industry suppliers and vendors with seamless financial management, easy-to-use online ordering and sales, precise inventory management, and engaging CRM tools.
| About GrubMarket
GrubMarket’s mission is to make fresh and healthy food accessible to everyone. We are committed to providing individuals, retailers, and restaurants with the best online food e-commerce experience possible, by regularly offering a spectacular array of farm-fresh foods at prices that are up to 50% OFF what you’d typically find from regular grocers or wholesalers.
| About WI Harper Group:
WI Harper is a pioneer and leading cross-border venture capital firm investing in early and expansion stage companies globally. With offices in San Francisco, Beijing, and Taipei, the firm actively oversees more than $1 billion in assets under management. Since inception nearly three decades ago, WI Harper has invested in over 400 startups and has successfully experienced more than 100 IPO and M&A exits.
We look for innovative companies and visionary founders in healthcare, technology and sustainability fields where there are high synergies and meaningful value added cross selling opportunities. While our healthcare team is presently honing on bioinformatics and digital biology, our technology team is focused blockchain, big data, analytics, artificial intelligence, AR/VR, IoT, robotics, drones, autonomous driving, as well as digital media and green energy projects.