WI Harper-backed GrubMarket announces its acquisition of Hung San Foods, a leading supplier of quality produce and specialty foods, serving grocery stores and restaurants in the Seattle area.This is another significant milestone for the company after the acquisition of Boston Organics, an online farm-to-table grocery delivery service in Massachusetts back in April 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.
GrubMarket today announced it has completed the acquisition of Hung San Foods, a leading supplier of quality produce and specialty foods, serving grocery stores and restaurants in the Seattle area. Hung San Foods was formerly an independent, family-owned food supplier with a portfolio of clients including grocery stores, supermarkets, single unit restaurants, chain restaurants, schools, and large institutional accounts across the Seattle region.
This is GrubMarket’s first acquisition in the Pacific Northwest, and the company will continue bolstering and building its strategic portfolio of wholesale companies within that region. Hung San Foods will now be able to leverage GrubMarket’s robust produce supply chain network and utilize GrubMarket’s innovative proprietary WholesaleWare software suite, the company’s new 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. Hung San Foods will remain headquartered in the Seattle area, and the company will continue to be managed by its current leadership team.
“We are excited to join the GrubMarket family and embrace the new growth opportunities that GrubMarket’s technology and network will bring. GrubMarket recognizes the customer centric values of Hung San Foods and shares the same spirit of service as our team. Together, we will offer a wider selection of products and better service to more customers,” said Hung Tan, CEO of Hung San Foods. Under Hung’s leadership, the company has earned a reputation for its ability to source any food, however rare and unique, that customers seek. During the last 20 years as CEO, Hung has instilled a keen sense of customer centricity in the company’s culture. It is with such dedication that the company will continue to serve customers in the future.
“Hung San Foods is an incredibly reputable and long-standing food supplier in the Seattle region. We are delighted to welcome them to the GrubMarket family, as we have some exciting plans in the works,” said Mike Xu, CEO of GrubMarket. The acquisition of Hung San Foods will deepen GrubMarket’s expertise and extend its geographic reach to Seattle, one of the fastest growing cities in the United States.
| About GrubMarket
GrubMarket’smission 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 Harperis 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.