- The financing will further fuel global distribution and
accelerate product innovation
- The funding comes after a period of meteoric growth as
Agrovision, sold under the Fruitist and Big Skye brands, nearly
tripled sales in the past three years
- The company is disrupting the $100B healthy snacks market while
supporting wellness for people and the planet
Agrovision, the healthy superfruit platform and the leading
large-scale, fully vertically integrated superfruit business, has
closed $100 million in equity financing from Aliment Capital,
alongside other marquee new and existing investors, including Steve
Kaplan, Co-Founder of Oaktree Capital Management.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240801963141/en/
A jumbo berry from Agrovision, marketed
under the brands Fruitist and Big Skye, being measured for size.
(Photo: Business Wire)
“Delivering more flavorful superfruit year-round requires full
stack innovation—optimizing across every layer of technology—from
genetics and systems to AI,” said Steve Magami, Co-founder and CEO
of Agrovision. “A new era has begun, with the generational shift to
healthy snacking, and we are happy to lead a revolution in
superfruit.”
Agrovision is known for premium superfruits—blueberries,
raspberries, blackberries, and cherries—sold under Fruitist and Big
Skye brands. Naturally delicious, super sweet, and bursting with
flavor, their hand-selected berries, including Jumbo blueberries,
fragrant red raspberries, and tangy blackberries, offer a
consistently better berry experience. In the U.S., Fruitist
supplies a large number of retailers, including Costco, Giant,
Publix, Sprouts, Trader Joe's, Wakefern, Walmart, and Whole Foods,
and is the Official Snack Partner of D.C. United. Globally,
Agrovision serves many leading supermarkets, club stores, and
high-end independent retailers across Asia, the Middle East,
Europe, and the UK.
The Rise in Healthy Snacking
The $1 billion+ valuation follows Fruitist and Big Skye's retail
growth and the recent boom in healthy snack consumption, which is
expected to reach over $100 billion this year. It also follows a
trend of consumer demand and annual growth for berries, which are
expected to reach $32 billion in the next five years. Additionally,
the impact of GLP-1 has led to a notable shift in consumer
behavior, with a 20% increase in fresh produce purchases by
prescription users.
“Berries are an iconic fruit, and we’ve observed a shift in how
people are investing in their health and spending at the store,”
said Ben Belldegrun, Co-founder and Managing Partner of Aliment
Capital. “Agrovision is truly the ‘right place, right time’ with
its unique model of owning the full stack, enabling them to
guarantee customers high-quality superfruit throughout the year
regardless of their geographic location. We’ve seen Agrovision’s
commitment to sustainable and innovative farming practices
firsthand, and we are confident that their approach will set a new
global standard for healthy snacking.”
Supercharging Superfruits 365 Days a Year
Agrovision has invested over $400 million in global expansion,
new genetics, artificial intelligence, and other proprietary
technology to deliver an elevated healthy snacking experience. The
predictability of Agrovision's vertically integrated platform
ensures consistency and reliability in the face of industry
challenges.
From its owned and controlled large-scale land and water assets
in most of the world's most exceptional micro-climates, within
Peru, Mexico, Morocco, USA, Egypt, India, and China, Agrovision has
developed year-round supply for leading premium-oriented retailer
partners across North America, the UK, Europe, China, Southeast
Asia, and the Middle East.
Advanced Technology and AI for Optimal Freshness
One key area in which Agrovision invests in R&D and
commercializing proprietary technology is freshness and shelf life.
Their partnership with RipeLocker, a Seattle-based ag-tech leader,
introduces a cost-effective solution that extends berry shelf life
three times longer than conventional methods without compromising
quality or eating experience. Agrovision’s AI technology scans and
assesses each berry’s quality, ensuring consistent premium
standards globally. The company excels in genetics R&D,
postharvest storage, data, robotics, bee pollination, and more.
Supported by regenerative farming practices, Agrovision enhances
soil health and sequesters carbon, delivering superior superfruits
while promoting sustainable agriculture.
Enabling Wellness for People and the Planet
Agrovision’s sustainability strategy follows a three-pronged
model: increasing biodiversity, mitigating climate change, and
enhancing the quality of life for local communities. Recognized
with multiple awards and aligned with 11 of the 17 U.N. Sustainable
Development Goals, Agrovision is committed to global economic
stability and social responsibility, including advocating for
women’s rights and environmental care.
Agrovision offers stable employment across diverse
transportation, retail, medical services, and IT sectors, creating
a robust local economy. Up to 15,000 field workers in Peru alone,
many from impoverished areas, are included in the workforce. Over
half of these workers are women, gaining financial independence,
enhanced social status, and personal pride. This employment model
transforms lives, fosters community growth, and empowers women,
many of whom are opening bank accounts for the first time, marking
a significant milestone in their journey toward economic
empowerment and self-sufficiency.
In its next growth phase, the company will invest in future
crops, superfruit varieties, and scale operations due to
accelerated and higher-than-anticipated retailer demand for
Fruitist and Big Skye’s crunchy and flavorful superfruits.
To learn more about Agrovision, visit AgrovisionCorp.com.
For details on Agrovision's sustainability practices and their
impact on enhancing the quality of life in the local communities
where they operate, visit
agrovisioncorp.com/sustainability-2023/.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240801963141/en/
Maggie Philbin VSC for Agrovision agrovision@vsc.co
203.394.1818