GrubMarket, a tech-enabled B2B food eCommerce company, has acquired Best Oriental Produce, significantly expanding its presence in Southern California

GrubMarket, a tech-enabled B2B food eCommerce company, has acquired Best Oriental Produce, significantly expanding its presence in Southern California[1]. Best Oriental Produce, based in Vernon, CA, is a major player in the Asian produce market, with a 700-hectare farming operation across California[1].

Key points of the acquisition include:

1. Best Oriental Produce’s market position:

• Largest Asian squash provider in the U.S.
• Largest importer of young coconut from Thailand to the U.S.
• Largest Chinese eggplant grower worldwide
• Ships over 46,000 cases of Chinese eggplant monthly, up to 10 truckloads daily from Mexico[1]

1. Company background:

• Founded over 35 years ago by Ben Charoensuk
• Grows a variety of Asian produce including bitter melon, Chinese eggplant, long bean, and Asian squash
• Operates a PrimusGFS-certified 25,000 square foot warehouse[1]

1. Market reach:

• Serves major supermarket and retail chains across California, New York, Chicago, Florida, and other regions in the U.S. and Canada[1]

1. Business performance:

• Consistently profitable for 35 years
• Long-standing customer relationships, with most top customers doing business for over 15 years[1]

Ben Charoensuk, the owner of Best Oriental Produce, expressed excitement about combining their dominance in high-demand SKUs with GrubMarket’s scale and technology capabilities[1]. The current leadership team will continue to manage the business post-acquisition[1].

Mike Xu, CEO of GrubMarket, praised Best Oriental Produce as one of the strongest businesses they have acquired, highlighting its consistent profitability and dominant supply positions in key produce items[1].

This acquisition aligns with GrubMarket’s strategy of expanding its presence in the food supply chain industry. GrubMarket offers various proprietary technology solutions, including AI-powered ERP software (WholesaleWare), enterprise AI assistant (GrubAssist), mobile eCommerce solution (Orders IO), and digital payments offering (GrubPay)[1].

GrubMarket has been actively expanding through acquisitions, recently also acquiring JC Cheyne, a fresh produce business specializing in onions and potatoes, to strengthen its West Coast presence[5]. These acquisitions demonstrate GrubMarket’s commitment to growth and diversification in the fresh produce sector.

Citations:
[1] https://www.prnewswire.com/news-releases/grubmarket-acquires-best-oriental-produce-the-largest-asian-squash-provider-in-the-us-302210761.html
[2] https://blog.grubmarket.com
[3] https://m.andnowuknow.com/buyside-news/grubmarket-acquires-best-oriental-produce-mike-xu-and-ben-charoensuk/chandler-james/92505
[4] https://app.dealroom.co/companies/grubmarket_inc
[5] https://blog.grubmarket.com/grubmarket-acquires-jc-cheyne-to-expand-further-on-the-west-coast/

How will GrubMarket’s technology impact Best Oriental Produce’s operations

GrubMarket’s acquisition of Best Oriental Produce will significantly impact the latter’s operations through the integration of advanced technological solutions. Here’s how GrubMarket’s technology will enhance Best Oriental Produce’s operations:

1. Enterprise Resource Planning (ERP) Software: Best Oriental Produce will gain access to WholesaleWare, GrubMarket’s AI-powered ERP software. This platform will provide seamless financial management, powerful sales support, online ordering capabilities, precise inventory management, lot traceability, grower accounting, and automated routing and logistics[1]. These features will streamline Best Oriental Produce’s operations, improving efficiency and reducing manual errors.
2. Enterprise AI Assistant: GrubMarket’s GrubAssist, a groundbreaking enterprise AI assistant, will empower Best Oriental Produce with deep insights, intelligent analysis, and automated order processing[1]. This technology will help the company make data-driven decisions and optimize its supply chain operations.
3. Mobile eCommerce Solution: Orders IO, a custom-branded mobile eCommerce solution, will connect Best Oriental Produce with buyers more efficiently[1]. This platform will likely enhance the company’s ability to reach customers and process orders seamlessly.
4. Digital Payments: GrubPay, a digital payments offering designed specifically for the food supply chain industry, will modernize Best Oriental Produce’s financial transactions[1]. This should lead to faster, more secure payments and improved cash flow management.
5. Operational Efficiency: The integration of these technologies is expected to enhance Best Oriental Produce’s overall operational efficiency. By automating various processes and providing better data insights, the company can focus on core competencies like growing and distributing high-quality produce[2].
6. Scalability: GrubMarket’s technology suite will enable Best Oriental Produce to scale its operations more effectively. The advanced software solutions can handle increased volume and complexity as the business grows[2].
7. Market Reach: With GrubMarket’s technological capabilities, Best Oriental Produce may be able to expand its market reach beyond its current customer base, potentially accessing new regions and customer segments[2].
8. Supply Chain Optimization: The combination of Best Oriental Produce’s dominant supply positions in key produce items with GrubMarket’s technology is expected to optimize the supply chain, potentially reducing waste and improving product freshness[1].

By leveraging these technological advancements, Best Oriental Produce is poised to enhance its already strong market position, improve customer service, and potentially explore new growth opportunities within the GrubMarket ecosystem.

Citations:
[1] https://www.prnewswire.com/news-releases/grubmarket-acquires-best-oriental-produce-the-largest-asian-squash-provider-in-the-us-302210761.html
[2] https://startupworld.tech/grubmarkets-bold-move-acquiring-produce-giant/
[3] https://m.andnowuknow.com/buyside-news/grubmarket-acquires-best-oriental-produce-mike-xu-and-ben-charoensuk/chandler-james/92505
[4] https://es.linkedin.com/company/grubmarket-inc-
[5] https://www.thepacker.com/news/industry/grubmarket-acquires-best-oriental-produce

How will the integration of GrubMarket’s technology affect Best Oriental Produce’s inventory management

The integration of GrubMarket’s technology will significantly enhance Best Oriental Produce’s inventory management in several ways:

1. Precise Inventory Tracking: GrubMarket’s AI-powered ERP software, WholesaleWare, will provide Best Oriental Produce with precise inventory management capabilities[1]. This will allow for real-time tracking of stock levels, reducing the risk of overstocking or stockouts.
2. Lot Traceability: The WholesaleWare platform offers lot traceability functionality[1]. This feature will enable Best Oriental Produce to track specific batches of produce from farm to customer, enhancing food safety and quality control measures.
3. Automated Routing and Logistics: GrubMarket’s technology includes automated routing and logistics features[1]. This will optimize Best Oriental Produce’s distribution processes, ensuring efficient movement of inventory from their 700-hectare farming operation and 25,000-square-foot warehouse to customers.
4. Data-Driven Decision Making: With GrubAssist, GrubMarket’s enterprise AI assistant, Best Oriental Produce will gain deep insights and intelligent analysis capabilities[1]. This will allow for more informed inventory management decisions based on historical data, market trends, and demand forecasts.
5. Improved Supply Chain Visibility: The integration of GrubMarket’s technology will likely provide Best Oriental Produce with better visibility across their entire supply chain, from their farms in California and Mexico to their customers across the U.S. and Canada[1].
6. Streamlined Order Processing: The combination of WholesaleWare’s online ordering capabilities and GrubAssist’s automated order processing will streamline Best Oriental Produce’s order fulfillment process[1]. This will lead to more accurate inventory allocation and reduced processing times.
7. Mobile Access: With Orders IO, GrubMarket’s mobile eCommerce solution, Best Oriental Produce’s team will likely have real-time access to inventory information on-the-go, allowing for more responsive inventory management[1].
8. Integration with Financial Management: WholesaleWare’s seamless financial management features will allow Best Oriental Produce to better align their inventory management with their financial operations, potentially improving cash flow and reducing waste[1].

By leveraging these technological advancements, Best Oriental Produce will be able to manage its extensive inventory of Asian produce, including Asian squash, Chinese eggplant, and Thai coconuts, more efficiently and effectively. This improved inventory management will support the company’s ability to maintain its position as a leading provider of these products while potentially uncovering new growth opportunities within the GrubMarket ecosystem[2].

Citations:
[1] https://www.prnewswire.com/news-releases/grubmarket-acquires-best-oriental-produce-the-largest-asian-squash-provider-in-the-us-302210761.html
[2] https://startupworld.tech/grubmarkets-bold-move-acquiring-produce-giant/
[3] https://www.thepacker.com/news/industry/grubmarket-acquires-best-oriental-produce
[4] https://m.andnowuknow.com/buyside-news/grubmarket-acquires-best-oriental-produce-mike-xu-and-ben-charoensuk/chandler-james/92505
[5] https://es.linkedin.com/company/grubmarket-inc-

How will the acquisition affect Best Oriental Produce’s relationships with existing customers

The acquisition of Best Oriental Produce by GrubMarket is likely to positively impact Best Oriental Produce’s relationships with existing customers in several ways:

1. Continuity of service: The current leadership team of Best Oriental Produce will continue to manage the business, ensuring continuity in relationships and service quality for existing customers[3]. This stability should help maintain the trust and rapport built over decades.
2. Long-standing customer relationships: Best Oriental Produce has cultivated decades-long relationships with many of its top customers, some of which have been doing business with the company for over 15 years[3]. The acquisition is unlikely to disrupt these well-established connections.
3. Enhanced product availability: With GrubMarket’s resources and technology, Best Oriental Produce may be able to improve its supply chain efficiency, potentially leading to better product availability and consistency for its customers[1].
4. Improved technology integration: Customers will likely benefit from GrubMarket’s suite of proprietary technology solutions, including:

• WholesaleWare: An AI-powered ERP software that could streamline ordering processes and inventory management[3].
• Orders IO: A custom-branded mobile eCommerce solution that may provide customers with easier ways to place and track orders[3].
• GrubPay: A digital payments offering that could simplify transactions for customers[3].

1. Expanded product offerings: As part of GrubMarket’s portfolio, Best Oriental Produce may be able to offer its customers a wider range of products beyond its current specialties in Asian produce[1].
2. Maintained quality and service: Best Oriental Produce’s reputation for high-quality products and excellent service has been a key factor in its success. The acquisition aims to maintain and potentially enhance these aspects, which should reassure existing customers[3].
3. Potential for improved logistics: GrubMarket’s technology and resources may lead to improvements in routing and logistics, potentially resulting in faster or more reliable deliveries to customers[3].

By leveraging GrubMarket’s technological capabilities while maintaining its core strengths in product quality and customer service, Best Oriental Produce is well-positioned to not only retain but potentially strengthen its relationships with existing customers post-acquisition.

Citations:
[1] https://startupworld.tech/grubmarkets-bold-move-acquiring-produce-giant/
[2] https://m.andnowuknow.com/buyside-news/grubmarket-acquires-best-oriental-produce-mike-xu-and-ben-charoensuk/chandler-james/92505
[3] https://www.prnewswire.com/news-releases/grubmarket-acquires-best-oriental-produce-the-largest-asian-squash-provider-in-the-us-302210761.html
[4] https://es.linkedin.com/company/grubmarket-inc-
[5] https://blog.grubmarket.com