Berry Startup Fruitist Surpasses $400 Million in Sales, Eyes Expansion and Possible IPO

Fruitist, a rapidly growing berry company known for its jumbo blueberries, has surpassed $400 million in annual revenue and is attracting attention from major investors, including the family office of Bridgewater Associates founder Ray Dalio, CNBC reports.

Formerly known as Agrovision, the company has also raised over $1 billion in capital, according to data from Pitchbook.

The company officially announced a rebranding this week, adopting the name “Fruitist” across all operations—a name previously reserved only for its consumer-facing products. Alongside its signature jumbo blueberries, Fruitist also offers blackberries and raspberries. Sales of its jumbo blueberries alone have tripled over the past 12 months, playing a significant role in its recent surge in revenue.

Founded in 2012, Fruitist has positioned itself as a disruptor in the berry market by addressing what co-founder and CEO Steve Magami calls “berry roulette”—the unpredictable quality of berries in traditional grocery supply chains. To combat this, Fruitist has built a vertically integrated operation, growing its own berries in diverse microclimates across Oregon, Mexico, Morocco, Romania, and Chile. The company also uses machine learning to determine optimal harvest times and operates its own cold storage facilities to preserve freshness longer.

This integrated model, Magami says, ensures consistent quality and extends shelf life.

“I’ve intentionally let them sit in my refrigerator for three weeks, and they’re still great,” he noted.

Fruitist’s jumbo blueberries are two to three times the size of a typical berry and are marketed as a “snackable” product—part of a broader trend toward healthier snacking options in the food industry.

Fruitist berries are currently available in more than 12,500 retail stores across North America, including Costco, Walmart, and Whole Foods. Looking ahead, the company plans to expand into cherries, with initial shipments expected in early 2026 from its Chilean farms.

The firm has also started to build its public profile, recently signing a multi-year marketing partnership with Major League Soccer team D.C. United, including branding on team jerseys.

According to reports from Bloomberg, Fruitist is considering a potential initial public offering (IPO) as early as mid-2025. While CEO Magami declined to comment on IPO timing, going public would place the company among produce giants like Dole, which returned to public markets in 2021 and currently holds a market value of $1.3 billion.

Despite its momentum, Fruitist faces challenges in navigating international trade policies. With US tariff rates on imported produce temporarily reduced to 10% until July, companies like Fruitist—operating farms in countries such as India, which faces a 26% duty—are closely monitoring policy shifts. Still, Magami believes the impact will be limited, pointing to the company’s ongoing investment in US-based agriculture.

“We don’t import to compete with domestic supply,” he explained. “We import to provide 52 weeks.”