Fruitist, a berry startup that has achieved unicorn status, has surpassed $400 million in annual sales, largely due to its long-lasting jumbo blueberries. Founded in 2012, the company recently rebranded from Agrovision to Fruitist. Known for its raspberries, blackberries, and blueberries, Fruitist has raised over $1 billion from investors, including Ray Dalio’s family office. The company is reportedly considering an IPO this year despite global economic uncertainties.
Fruitist differentiates itself by branding its berries as “snackable,” a category experiencing rapid growth in the food industry. The adoption of GLP-1 drugs and initiatives like Health Secretary Robert F. Kennedy Jr.’s “Make America Healthy Again” agenda have boosted demand for healthier snacks. Fruitist’s berries are available in over 12,500 North American retailers, including Costco, Walmart, and Whole Foods. Sales of its jumbo blueberries have tripled in the past year.
Co-founder and CEO Steve Magami attributes Fruitist’s success to solving “berry roulette,” the inconsistent quality of grocery store berries. The company grows its fruit in microclimates across Oregon, Morocco, Romania, and Mexico, utilizing machine learning to optimize harvest times and investing in cold storage infrastructure. This vertically integrated supply chain ensures longer shelf life for its berries. Looking ahead, Fruitist plans to expand into cherries and increase marketing efforts, including a partnership with Major League Soccer’s D.C. United.
Trade tensions and tariffs present challenges, but Magami remains optimistic about minimal impact due to significant U.S. production investments. If Fruitist goes public, it will enter a market with mixed results for new stocks, though investor interest in strong growth consumer companies remains high.
— new from CNBC