Fruitist, a Los Angeles-based premium fruit brand formerly known as Agrovision, has named Rich Sullivan as its new Chief Financial Officer. Sullivan joins the company from SurveyMonkey, where he served as CFO since 2022, bringing over 20 years of financial leadership experience from roles at Acorns, Twitter, DreamWorks Animation SKG, and STX Entertainment.
Founded in 2012, Fruitist launched its consumer products in 2020 and has since achieved remarkable growth, surpassing $400 million in annual sales and reaching a valuation exceeding $1 billion. The company supplies over 12,500 retail stores across 28 countries, including major retailers like Walmart, Whole Foods, and Costco, and employs approximately 1,200 people worldwide. Its growth has been backed by prominent investors, including Ray Dalio’s family office, Aliment Capital, Goldman Sachs, Barclays, iab, and BBVA.
Sullivan expressed enthusiasm for Fruitist’s mission to provide nutritious and enjoyable snacking options. “I’m personally inspired by the mission to create enjoyable and nutritious snacking,” Sullivan said in an interview. “Fruitist has reached a critical point in its growth cycle where financial leadership can really have a material impact.” He views his role as providing a financial “navigation system” to support the company’s strategic goals, particularly as consumer demand for premium, health-conscious products rises, influenced by trends like GLP-1 anti-obesity medications reshaping shopping and snacking habits.
ALSO READ: WELLS FARGO CITES STRONG CONSUMER SPENDING IN GROWTH PLAN
Fruitist leverages cutting-edge technology, including AI for berry quality assessment, advanced varietal research, post-harvest storage solutions, data analytics, robotics, and bee pollination. The company operates farms in over 10 microclimates across the U.S., Peru, Mexico, Chile, Morocco, Egypt, India, and China, ensuring a consistent supply of high-quality fruit. Sullivan noted that Fruitist is well-positioned to navigate challenges like tariffs through proactive management of operational inputs.
Steve Magami, Fruitist’s co-founder and CEO, praised Sullivan’s appointment, stating, “Rich’s financial leadership and deep capital markets experience will strengthen Fruitist’s foundation as we continue to grow globally and expand our reach to new consumers.”
When asked about the possibility of an initial public offering (IPO), Sullivan remained cautious, saying, “It’s too early to tell what the future holds.” A Fruitist representative confirmed that no formal IPO plans have been announced.
As CFO, Sullivan aims to ensure Fruitist maintains strategic flexibility while continuing to differentiate itself as a premium brand. A self-professed fan of the company’s products, Sullivan revealed that blueberries are his favorite. “I love cooking, and I think I’m going to learn how to make a lot of blueberry recipes,” he added with a smile.
