Fresh Del Monte Partners with I Squared Capital as Part of Acceleration into New Digital Era, Driving Efficiency & Company Ex...
02 June 2021 - 11:45PM
Business Wire
Investing into I Squared Global InfraTech
Fund which focuses on growth stage technology companies in various
sectors
Fresh Del Monte Produce Inc., one of the world’s leading
vertically integrated producers, marketers and distributors of
high-quality fresh and fresh-cut fruit and vegetables, is pleased
to announce its partnership with I Squared Capital, an independent
global infrastructure investment manager focusing on energy,
utilities, digital infrastructure, transport, and social
infrastructure in the Americas, Europe and Asia.
By creating this partnership and investing in the I Squared
Global InfraTech Fund, Fresh Del Monte takes the next step in
transforming into a digital-forward company with technology-enabled
capabilities to further enhance its products and customer
satisfaction. The fund invests in innovative growth-stage companies
applying technology in various infrastructure sectors, including
logistics, supply chain, and agriculture. Fresh Del Monte and I
Squared Capital will share investment prospects, seek to co-invest
in certain deals, and offer general support by sharing research and
learnings in certain technology fields, including Internet of
Things (IoT), energy storage, and vertical farming.
“This partnership accelerates Fresh Del Monte into the new
digital era through selective investments in infrastructural
technology that will help reduce and/or eliminate bottle necks in
our supply chain, driving us to be more efficient,” said Mohammad
Abu-Ghazaleh, Chairman and Chief Executive Officer of Fresh Del
Monte Produce. “Simultaneously, we’ll also be able to develop
additional capabilities internally for business expansion.”
“We are very pleased to have Fresh Del Monte as a strategic
investor in our Global InfraTech Fund,” said Kevin Crull, Managing
Director and InfraTech Fund Partner at I Squared Capital.
“Agriculture and the global supply chain are undergoing tremendous
innovation right now and our partnership with Fresh Del Monte will
help us source, diligence, and support the growth of companies that
are applying proven technologies to make our world more efficient
and sustainable.”
To learn more about Fresh Del Monte Produce, sign up for alerts
at
http://investorrelations.freshdelmonte.com/overview/default.aspx.
ABOUT FRESH DEL MONTE
Fresh Del Monte Produce Inc. is one of the world's leading
vertically integrated producers, marketers and distributors of
high-quality fresh and fresh-cut fruit and vegetables, as well as a
leading producer and distributor of prepared food in Europe, Africa
and the Middle East. Fresh Del Monte markets its products worldwide
under the DEL MONTE® brand (under license from Del Monte Foods,
Inc.), a symbol of product innovation, quality, freshness and
reliability for over 135 years. The Company also markets its
products under the MANN™ brand and other related trademarks. Fresh
Del Monte Produce Inc. is not affiliated with certain other Del
Monte companies around the world, including Del Monte Foods, Inc.,
the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada,
or Del Monte Asia Pte. Ltd. Fresh Del Monte is the first global
marketer of fruits and vegetables to commit to the “Science Based
Targets” initiative. Fresh Del Monte Produce is traded on the NYSE
under the symbol FDP. To learn more about the company, sign up for
alerts at
http://investorrelations.freshdelmonte.com/overview/default.aspx
ABOUT I SQUARED CAPITAL
I Squared Capital is an independent global infrastructure
investment manager with over $28 billion in assets under management
focusing on energy, utilities, digital infrastructure, transport
and social infrastructure in the Americas, Europe, and Asia. The
firm has offices in Miami, Hong Kong, London, New Delhi, and
Singapore.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy limited partnership interests in
ISQ Global InfraTech Fund, L.P.
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version on businesswire.com: https://www.businesswire.com/news/home/20210602005270/en/
Tina Caballero freshdelmonte@rockorange.com
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