Santa Clara, Calif.–based ecFood, a pioneer in strategic sourcing solutions for the food and beverage industry, announced today [Wednesday] that 2001 was an exceptional year with dramatic increases in revenue, gross margin, transaction volume, customer acquisition and services.

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While threatened by the bursting of the dot-com and technology bubble in early 2001, ecFood closed out the year with a record breaking Q4, including an 815% increase in gross margin from 2000 and revenue of US$37.6m. ecFood also acquired a major dairy industry purchasing association, retained two top ten food company accounts, and expanded its list of products and services.


The company said that “2001 was a significant improvement over 2000”. Revenues increased to US$37.6m; gross margin to 4.7%; expenses declined by 24.9%, and the company increased its customer base and services making the company cash flow neutral.   


A solid Q4 in 2001 saw ecFood’s gross margin increase by more than 53% over Q3 and 516% over Q4 2000. This represents the highest Q4 ever achieved by ecFood since its inception in December 1998. 


CEO Dave Laukat said: “In a very difficult year for everyone, our ecFood team demonstrated outstanding achievements in strategy, execution, customer relationships and financial staying power.”

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ecFood increased alliances with various purchaser and suppliers increased in 2001, including new customer relationships with two top ten International food companies. With the acquisition of the Masters Group (formerly Master Dairies) in September, ecFood’s annualized revenue volume increased to more than US$250m. The purchase also significantly strengthened ecFood’s demand aggregation strategy. In its first full quarter since being acquired by ecFood, the Masters Group dairy purchasing association realized significant savings and economies of scale on dairy ingredients and materials such as resin, vinyl gloves and liquid sugar.