JPMorgan and Dalio Back Rapidly Growing Berry Company Fruitist
Fruitist, the premium berry brand known for its jumbo blueberries, has raised $150 million in a new funding round led by J.P. Morgan Asset ManagementDealroom has a profile for this one. Try Dealroom →, with billionaire investor Ray Dalio’s family officeDealroom has a profile for this one. Try Dealroom → increasing its stake. The company, now valued at over $1 billion, is expanding rapidly across North America and Europe, with its products available in more than 12,500 retail locations worldwide.
The fresh produce and healthy snacking company has seen particularly strong demand for its grab-and-go Fruitist Snack Cups, a convenience-focused product that has grown from 30 stores in Spain to 750 and is heading to 1,000 locations. In the U.S., its berries are sold at major retailers including Costco, Walmart, Trader Joe’s, and Whole Foods.
Fruitist has raised a total of $443 million in equity capital, using the latest funding to increase production capacity, invest in cold storage, and implement automation across its agricultural operations in eight countries. CEO Steve Magami described the investment as a way to scale volume to meet demand that currently outpaces supply.
The company operates a vertically integrated model, controlling the value chain from cultivation to global distribution. Its strategy positions it in the “better-for-you” snacking segment, which is growing as consumers increasingly spend on premium, health-focused options. While blueberries remain the core of its business, Fruitist is expanding into cherries, raspberries, and blackberries, though these new lines currently represent a small portion of total sales.
Industry observers note that Fruitist has successfully created a distinct category in the snacking market, differentiating its products from commodity berries. Annual sales recently surpassed $400 million, and the company continues to see rapid growth in both volume and retail penetration. The firm ranked No. 18 on the 2025 CNBC Disruptor 50 list, highlighting its market impact.
Fruitist is monitoring the wider healthy-snacking market and IPO activity, including competitors like Jennifer Garner’s Once Upon a Farm, while focusing on sustainable growth, brand building, and capturing more of the global premium berry segment.
Source:
A.M.
