Fresh Direct Raises $189m For Private Brand Manufacturing & Expansion

fresh-directEast Coast online grocer Fresh Direct has secured $189 million in additional funding. The round was led by J.P. Morgan Asset Management, along with W Capital and AARP Innovation Fund investing.

FreshDirect will use the new capital to build private brand manufacturing capacity and open new geographies, according to co-founder and CEO Jason Ackerman.

When asked whether he was concerned about the expansion of AmazonFresh, Ackerman quipped, “we’ve been competing with Amazon for a while now…and we’ve continued our growth rates all the way through.” He added that there is room for multiple players in what he believes is a trillion-dollar industry.

Previous articleRanir Purchases 200,000 sqft Headquarters, R&D and manufacturing facility.
Next articleWest Elm Hotels: Complete Private Brand Immersion
Christopher Durham
Christopher Durham is the President of My Private Brand and the Co-founder of The Vertex Awards. He is a strategist, author, and consultant who has worked with Family Dollar, Petco, Staples, Office Depot, Best Buy, Metro, Lowe’s, Food Lion, Hannaford and more building private brands. Durham has published five definitive books on private brands including his first book Fifty2: The My Private Brand Project. In 2017, he will debut his latest book Vanguard: Vintage Originals a look at innovation and disruption in private brand going back to the mid-1800’s. Durham lives in Charlotte, NC with his wife Laraine and two daughters Olivia and Sarah.