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Fresh Del Monte and Tech Start-Up Decapolis Join Forces to Provide Industrywide Blockchain Traceability Solutions
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Fresh Del Monte Produce has acquired a 39% stake in Decapolis, a tech startup specializing in blockchain food safety and quality traceability. This strategic investment aims to enhance transparency in the food supply chain, starting with Fresh Del Monte’s pineapple operations in Costa Rica. The Decapolis Food Guard platform will provide consumers with full traceability from farm to fork via QR codes. This initiative is part of Fresh Del Monte’s commitment to innovative, sustainable solutions and aims to roll out the service to other businesses as well.
Positive
Acquisition of a 39% stake in Decapolis enhances Fresh Del Monte's technological capabilities.
Implementation of blockchain technology offers full traceability, increasing consumer trust.
Strategic focus on sustainability and innovation aligns with consumer demands.
Negative
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Fresh Del Monte invests stake in company to provide end-to-end traceability for consumers, with plans to make platform available to other businesses and industries
MIAMI--(BUSINESS WIRE)--
Fresh Del Monte Produce, one of the world’s leading vertically integrated producers, distributors, and marketers of fresh and fresh-cut fruits and vegetables announced today it has invested a 39 percent stake in Decapolis, a Jordanian and UK-based startup technology company that provides a blockchain-driven food safety and quality traceability technology for the food industry. The investment is part of Fresh Del Monte’s technology-driven mission to offer best-in-class, innovative solutions for its products and services, and to provide sustainable solutions that other businesses and industries can benefit from.
The two companies plan to roll out Decapolis Food Guard (DFG)™, the blockchain-based traceability solution, across all Fresh Del Monte business segments, starting with Fresh Del Monte’s pineapple operations in Costa Rica. Decapolis Food Guard provides full traceability solutions through the DFG chain of records which capture assessments at each stage of production, from planting to distribution through the use of QR codes. Deploying blockchain technology ensures data remains immutable and QR codes on product labels certify end-to-end traceability. Anyone who scans the QR code will be able to see a complete log of product information from farm to fork. This traceability process allows for trusted record keeping in the supply chain, whether it impacts consumer knowledge, food safety, or quality analysis. Fresh Del Monte and Decapolis also plan to provide the Decapolis Food Guard (DFG)™ to other interested businesses.
“Now more than ever, consumers are very cognizant of what goes into their food. With this blockchain technology, they’ll know exactly what has gone into the product, and where it has traveled until the moment it was purchased for consumption. We’re excited to begin rolling out this traceability solution to all Fresh Del Monte products,” said Mohammad Abu-Ghazaleh, Fresh Del Monte Chairman and Chief Executive Officer.
Decapolis has successfully developed and deployed this solution in the private and public sector, spanning four continents. Today, Decapolis is optimistic about its promising partnership with Fresh Del Monte.
“We are in the business of doing good. We embark on this endeavor with full confidence in our company, our offerings, service, and the people we serve. It will surely be a promising and fruitful venture, a force multiplier to work that positively impacts communities, families, and the future of healthy living and technology for good. “We remain steadfast in moving towards our vision of becoming the leading global reference platform for compliance and certification for food trade worldwide,” said Abedalrhman Habashneh, Decapolis Founder and Chief Executive Officer.
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. In 2022, Fresh Del Monte Produce was ranked as one of “America’s Most Trusted Companies” by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. Fresh Del Monte Produce is traded on the NYSE under the symbol FDP.
ABOUT DECAPOLIS
Decapolis is a Jordan and UK based global leader in food traceability technology. The mission of Decapolis is to support partners, and by extension, the industries in which we work to provide premium goods for which the end-to-end supply and production chain comply with strict safety and quality control standards. Decapolis helps food producers increase product profitability and reduce operation costs using the blockchain for increased transparency and efficiency of the food producer’s supply chain and distribution processes. Where possible, manual processes and record-keeping are digitized and automated. Decapolis Food Guard (DFG)™ integrates connections with producer’s measurement systems, IoT devices, and producer ERP systems to gather business, financial, and technical data governing production processes. Decapolis works with the World Food Program (WFP) to enable over 600 smallholder farmers to produce in-demand, higher-quality crops, and increase product profitability by accessing new markets. This improves smallholder farmers' livelihoods, brings safe, healthy products to local markets and increases efficiency across the production and supply chains. This year, Decapolis joins the WFP in the National School Feeding Program in Jordan. Decapolis provides fresh fruit and vegetables from their consortium of farms for the program that ensures traceable, healthy, nutritious meals are delivered to school children across the country.
