GrubMarket completes acquisition of Vancouver-based online grocer SPUD
SPUD, founded in Vancouver in 1997, will operate under GrubMarket's technology platform while its brick-and-mortar stores transfer to separate ownership.
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U.S. food e-commerce platform GrubMarket has completed the acquisition of SPUD (Sustainable Produce Urban Delivery Inc.), Vancouver's online grocery retailer. The companies did not disclose the deal's value.
SPUD, founded in Vancouver in 1997, offers scheduled grocery deliveries to customers in British Columbia, Alberta and Saskatchewan, selling fresh produce, dairy, meat, seafood, pantry staples, prepared meals and artisanal products. The company operates three distribution centres spanning more than 85,000 square feet in Burnaby, Calgary and Edmonton and works with more than 800 local farmers, producers and food entrepreneurs.
SPUD's existing management team will remain in place while gaining access to GrubMarket's AI-powered WholesaleWare enterprise resource planning platform for food wholesalers, distributors and shippers. SPUD CEO Claude Church said the transaction "represents an exciting new chapter" and positions the company to "amplify its impact, strengthen its support for local farmers and producers, and reach more households that share our values."
SPUD's brick-and-mortar banners — Blush Lane Organic Market and Be Fresh Market — were not included in the acquisition and will continue operating separately under Toronto-based investment firm Third Eye Capital.
GrubMarket has made other Vancouver investments. The company acquired Vancouver-based e-commerce software provider Funtech Software in 2021 and fintech firm IOT Pay in 2022.
The facts
When was SPUD founded?
SPUD was founded in Vancouver in 1997.
What regions does SPUD deliver to?
SPUD offers scheduled grocery deliveries to customers in British Columbia, Alberta and Saskatchewan.
How many distribution centres does SPUD operate?
SPUD operates three distribution centres spanning more than 85,000 square feet in Burnaby, Calgary and Edmonton.
What happens to SPUD's physical stores?
SPUD's brick-and-mortar banners — Blush Lane Organic Market and Be Fresh Market — were not included in the acquisition and will continue operating separately under Toronto-based investment firm Third Eye Capital.
