Fresh Del Monte Produce Drives Digital Efficiency and Expansion in Partnership with I Squared Capital; Mohammad Abu-Ghazaleh and Kevin Crull Comment
- by Peggy Packer
CORAL GABLES, FL - Tapping an esteemed tech savant, Fresh Del Monte Produce is accelerating its growth through investments in its digital capabilities. The fresh produce purveyor has recently unveiled a new alliance with independent global infrastructure investment manager I Squared Capital.
“This partnership accelerates Fresh Del Monte into the new digital era through selective investments in infrastructural technology that will help reduce and/or eliminate bottlenecks in our supply chain, driving us to be more efficient,” said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer of Fresh Del Monte. “Simultaneously, we’ll also be able to develop additional capabilities internally for business expansion.”
As a company, I Squared Capital focuses on energy, utilities, digital infrastructure, transport, and social infrastructure in the Americas, Europe, and Asia.
Through the formation of this partnership and investing in the I Squared Global InfraTech Fund, Fresh Del Monte takes the next step in its growth phase, transforming into a digital-forward company with technology-enabled abilities to enhance its operations, a press release explained.
“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.”
The I Squared Global InfraTech Fund supports innovative companies applying technology across various infrastructure sectors, including logistics, supply chain, and agriculture. As a result of the alliance, Fresh Del Monte and the tech innovator will share investment prospects, look to co-invest in certain deals, and share research in numerous technology fields.
As the grower continues to pursue growth across its operations, AndNowUKnow will keep bringing you the latest news in the industry.