Fresh Del Monte Partners with I Squared Capital as Part of Acceleration into New Digital Era, Driving Efficiency and Company Expansion

By: Fresh Del Monte Produce Inc. via Business Wire

June 02, 2021 at 09:45 AM EDT

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.