Beyond Berry Roulette: How Fruitist Is Turning Blueberries into a $1 Billion Snack Empire

Courtesy: Fruitist

The Los Angeles-based superfruit brand backed by J.P. Morgan and Ray Dalio is redefining the $400 million blueberry market through data-driven farming, performance partnerships, and global expansion.

When Steve Magami talks about blueberries, he doesn’t sound like a farmer. “They actually pop when you bite into them,” the Fruitist CEO told Fortune. “They’re so firm and crispy, you’ve got to try it to know what I mean.” His words might fit a luxury car pitch, but they describe berries that have turned a simple fruit into a global phenomenon.

Fruitist’s jumbo “Legends” blueberries, so large they nearly rival golf balls, have become cult favorites at Trader Joe’s, Whole Foods, Sprouts, and Erewhon. Now, with $150 million in new equity financing led by J.P. Morgan Asset Management and backed by Ray Dalio’s family office, the company is scaling its vertically integrated model worldwide. The raise cements Fruitist’s transformation from its agricultural roots as Agrovision into a data-driven consumer brand reshaping healthy snacking.

Building the Berry of the Future

Magami began in private equity, financing biofuel projects before spotting similar inefficiencies in agriculture. “We wanted to end berry roulette,” he said. “One pack is perfect, the next is mushy. We wanted consistency.”

Fruitist solved that by taking control of every step, from breeding proprietary varietals to managing farms and logistics across Peru, Mexico, Morocco, Egypt, China, and the U.S. The result is a year-round supply and uniform quality, something traditional grower-packer models can’t guarantee.

Behind the scenes, Fruitist functions like a tech company. It collects millions of berry-level data points each month, feeding them into predictive analytics that model microclimates, forecast harvest windows, and minimize waste. A partnership with RipeLocker adds low-atmosphere vacuum chambers that extend shelf life and reduce spoilage, giving the company an edge in freshness logistics.

From Produce to Performance

The company’s rise dovetails with shifting eating habits. Berries have become a go-to snack for health-conscious consumers, and the boom in GLP-1 drugs like Ozempic and Wegovy has only accelerated demand. “Our data show that GLP-1 users increase their berry purchases after starting the medication,” Magami said.

To expand its audience, Fruitist has embraced pop-culture and sports. Chicago Bears quarterback Caleb Williams, who recently joined as both investor and ambassador, headlines a lineup of partnerships that includes USC Athletics and D.C. United. “We’re meeting consumers where they are, from stadiums to online storefronts,” Magami said. “Fruitist is about healthy, performance-driven snacking.”

Scaling a Superfruit Brand

While blueberries remain the hero, Fruitist is scaling blackberries, raspberries, and cherries to build a year-round “berry platform.” Its products now reach 12,500 retailers in 40 countries, including Costco, Walmart, Publix, and ShopRite, and the company reported $400 million in trailing 12-month sales earlier this year.

For investors, the appeal lies in vertical control and consumer resonance. “Fruitist has built a moat around its business,” said Brad Demong, Managing Director at J.P. Morgan Asset Management. “With end-to-end integration and leadership in premium berries and better-for-you snacks, it’s positioned for durable expansion.”

New leadership hires, including Rich Sullivan as CFO and Jim Trahanas as CTO, underscore Fruitist’s evolution from grower to global brand. “We’re proving that fresh, flavorful, and nutritious snacks can scale,” Magami said. “People are rethinking what they reach for between meals, and we want them to reach for Fruitist.”

With $150 million in fresh capital and ambitions far beyond blueberries, Fruitist is betting that the future of food isn’t just about eating better, it’s about making “better” irresistible.