Grubmarket Acquires Good Eggs, A Leading U.S. Online Grocery Company

(MENAFN- PR Newswire) SAN FRANCISCO, Aug. 7, 2024 /PRNewswire/ -- GrubMarket, a leading tech-enabled food eCommerce company and a pioneer in Enterprise AI solutions for America's food supply chain industry, today announced it has completed the Acquisition of Oakland, CA-based Good Eggs, a leading online grocery service renowned for its steadfast commitment to sustainability, local sourcing, and high-quality food. This strategic acquisition marks a key milestone for GrubMarket, as it strengthens its eCommerce capabilities with a category leader that has a strong and visible brand presence, particularly across its major service regions in the San Francisco Bay Area and Los Angeles.

Founded in the summer of 2011 in San Francisco, Good Eggs has built a reputation for delivering high-quality groceries and meals, sourced from California's top organic farmers, makers, and producers. Operating out of a warehouse facility that spans over 125,000+ square feet in space, the company offers over 7,000 products ranging from fresh produce, dairy products, eggs, meat, seafood, and pantry staples, to prepared meals and artisanal goods. The team ensures that every item sold meets rigorous criteria for quality and environmental responsibility.

Good Eggs stands out in the crowded grocery retail market with its dedication to transparency and direct support for local agriculture. By maintaining close relationships with local farmers and producers, Good Eggs ensures that customers receive the freshest and most sustainably grown food available. This approach not only supports the local economy but also reduces the environmental impact associated with complex and fragmented supply chains. More than 70% of its products are sourced within 250 miles of distribution.

Good Eggs' proven business model delivers best-in-class unit economics through a seamless online shopping experience and the company's expertise in logistics. Its innovative supply chain practices allow it to maintain a spoilage rate significantly lower than industry benchmarks, ensuring peak-quality product freshness for customers.

Good Eggs' CEO, Rodrigo Arévalo, expressed enthusiasm for the acquisition, stating, "Joining GrubMarket is an exciting new chapter for Good Eggs. Our mission has always been to create a better food system by connecting people with the highest quality, sustainably sourced food. With GrubMarket's robust technological capabilities, expansive global supply network, and incomparable operational expertise, we are poised to amplify our impact and reach more households who share our values."

The acquisition of Good Eggs aligns with GrubMarket's strategy to expand its footprint in the consumer market while leveraging its technological prowess to drive operational efficiencies and enhance the customer experience. GrubMarket's CEO, Mike Xu, says: "Good Eggs has built an impressive brand with a loyal customer base that values sustainability and quality. We see tremendous potential in combining our extensive network and resources to further scale Good Eggs' operations. At GrubMarket, we, too, believe in using our success to support local farmers and sustainable agricultural practices. Good Eggs' commitment to these principles makes them an ideal partner for us. Together, we will continue to promote a more resilient and human-centered food system. This acquisition allows us to diversify our product offerings, reach more sustainability-minded consumers who value quality, and strengthen our position as one of the fastest growing and most impactful companies in the food supply chain industry."

As part of GrubMarket's portfolio, Good Eggs will enjoy the advantages offered by GrubMarket's suite of proprietary technology solutions, which includes WholesaleWare, an AI-powered ERP software-as-a-service (SaaS) platform that provides food industry wholesalers, distributors, and shippers with seamless financial management, powerful sales support, online ordering, precise inventory management, lot traceability, grower accounting, and automated routing and logistics; GrubAssist, the groundbreaking enterprise AI assistant that empowers food supply chain businesses with deep insights, intelligent analysis, and automated order processing; and GrubPay, a digital payments offering designed specifically for the food supply chain industry.

About GrubMarket

GrubMarket is the AI-powered technology enabler and digital transformer of the American food supply chain industry, as well as one of the largest private food tech companies globally. As the enterprise AI solutions provider for the American food supply chain, a first mover in the tech-enabled B2B food eCommerce space, and a pioneer offering cutting-edge, AI-powered software-as-a-service solutions, GrubMarket uses technology to fundamentally transform the American and global food supply chain. GrubMarket has also been named to the prestigious CNBC Disruptor 50 list for two consecutive years. GrubMarket operates in all 50 U.S. States and has a global presence in Argentina, Canada, Chile, Colombia, Egypt, India, Mexico, South Africa, and Spain, with plans to expand further across the U.S., Canada, South America, Europe, Africa, and other parts of the world.

For Media Inquiries:
GrubMarket Media Team
[email protected]
(415) 986-0523

SOURCE GrubMarket

MENAFN07082024003732001241ID1108527741