You are currently viewing JPMorgan and Ray Dalio Boost Fruitist with $150 Million Investment as Sales Soar

JPMorgan and Ray Dalio Boost Fruitist with $150 Million Investment as Sales Soar

Prime Highlights:

  • JPMorgan Asset Managementled a $150 million funding round for Fruitist, with billionaire Ray Dalio increasing his investment.
  • The company, valued at over $1 billion, continues to expand rapidly in the global healthy snacking market.

Key Facts:

  • Fruitist’s annual saleshave surpassed $400 million, with revenue tripling in recent years.
  • The company’s products are now available in over 12,500 retail storesacross 40 countries

Background:

Global healthy snack brand Fruitist has raised $150 million in new funding led by JPMorgan Asset Management, while billionaire Ray Dalio increased his investment in the company. The latest round pushes Fruitist’s valuation above $1 billion, signaling strong investor confidence in the brand’s rapid growth and its position in the fast-expanding “better-for-you” grocery market.

Founded by CEO Steve Magami, Fruitist has become a leader in premium produce snacks, best known for its jumbo blueberries and single-serve “Snack Cups.” The company’s products are now available in more than 12,500 retail outlets across North America and in 40 countries worldwide. Fruitist’s yearly sales have passed $400 million, with revenue tripling in the past few years as more people choose healthy, natural snacks.

The new funds will help the company increase production, improve cold storage, and grow its farming operations in eight countries. “We are investing in growing volume and production capacity because demand is far greater than we can currently supply,” Magami said, highlighting Fruitist’s focus on maintaining quality and scaling efficiently.

JPMorgan’s Managing Director Brad Demong said the firm sees Fruitist as “a driving force behind the premiumization of berries and the better-for-you category,” citing its control of the value chain and potential for long-term growth. Other investors in the round include Aliment Capital and Steve Kaplan, co-founder of Oaktree Capital Management.

Fruitist’s new Snack Cups, which launched in Spain earlier this year, have expanded from 30 stores to over 750 and are set to enter 1,000 locations soon, including U.S. retailers. Analysts note that the healthy snacking segment is one of the few bright spots in an otherwise flat food market, with consumers increasingly seeking nutritious and convenient options.

Ranked No. 18 on the 2025 Disruptor 50 list, Fruitist continues to redefine the berry industry. As Magami puts it, “These aren’t just blueberries, they’re snacking berries for a new generation of health-conscious consumers.”