Fresh Del Monte Produce Inc. Expands Reach of Broccolini® Baby Broccoli Through Licensing Agreement with The Nunes Company, Inc.

Rhea-AI Summary

Fresh Del Monte Produce (NYSE: FDP), through its vegetable division Mann Packing, has signed a licensing agreement with The Nunes Company to expand the distribution of Broccolini® baby broccoli. This strategic partnership will make the premium vegetable brand more widely available while maintaining its quality standards.

Broccolini®, exclusively trademarked by Mann Packing in 1998, is known for its tender stalks, delicate florets, and mild, sweet taste. The Nunes Company, founded in 1976 and known for its Foxy® brand, will market and sell Broccolini® under the Foxy® label in the coming months. This collaboration follows their previous partnership in 2024 with Fresh Leaf Farms.

Positive

• Strategic expansion of premium Broccolini® brand distribution
• Partnership with established Foxy® brand enhances market reach
• Maintains exclusive trademark rights while generating licensing revenue

Negative

• None.

Insights

Financial Analyst

Fresh Del Monte's licensing agreement with The Nunes Company represents a strategic business expansion for their premium Broccolini® baby broccoli product. While financial terms remain undisclosed, this partnership holds notable strategic value by addressing increasing consumer demand through wider distribution channels.

The agreement leverages complementary strengths: Mann Packing's premium branded product with The Nunes Company's established Foxy® distribution network. This effectively creates a wider market footprint without capital investment in additional production or distribution infrastructure - a capital-efficient growth strategy.

For context, Fresh Del Monte's vegetable division typically operates on tighter margins than its core fruit business. Licensing arrangements generate recurring revenue streams through royalties while minimizing operational costs. What's particularly valuable is that FDP maintains brand control while expanding market presence.

From a competitive standpoint, this move solidifies FDP's position in the specialty produce segment while potentially creating a template for similar arrangements with other premium produce items in their portfolio. The partnership with Nunes Company builds upon their previous collaboration from the Fresh Leaf Farms sale earlier in 2024, indicating a deepening strategic relationship between the companies.

While not transformative to FDP's overall financial profile given their $1.4B market cap, this represents solid execution on their strategy to maximize value from branded specialty products through asset-light expansion models.

Agricultural Supply Chain Specialist

This licensing agreement cleverly addresses a fundamental challenge in specialty produce markets - balancing exclusivity with scale. Broccolini® has maintained premium positioning since 1998 through controlled distribution, but this approach inherently limits growth potential. The new arrangement allows for market expansion while preserving brand equity.

Supply chain implications are significant. Fresh Del Monte likely faced capacity constraints in meeting growing demand through their Mann Packing division alone. By bringing in The Nunes Company, they gain access to additional growing regions and processing capacity without direct capital investment.

The timing is noteworthy from a produce industry perspective. Consumer preference continues shifting toward specialty vegetables with unique flavor profiles and convenient preparation attributes. Broccolini® fits this trend perfectly with its "entirely edible" nature and mild, slightly sweet taste.

The Nunes Company brings important advantages through its Foxy® brand presence across major retailers nationwide. Their distribution network complements Mann Packing's existing channels, potentially unlocking new retail partnerships that were previously inaccessible.

This collaboration model could represent an emerging trend in produce where brand owners leverage their intellectual property through strategic licensing rather than vertically integrated expansion. For Fresh Del Monte, this approach aligns with their broader corporate strategy of maximizing returns on established brands while maintaining quality control - essentially creating an asset-light growth avenue for their specialty produce portfolio.

New Agreement Brings Broccolini® to More Retailers While Maintaining Premium Quality

CORAL GABLES, Fla.--(BUSINESS WIRE)-- Fresh Del Monte Produce Inc. (NYSE: FDP), through its vegetable division Mann Packing, has entered into a licensing agreement with The Nunes Company, Inc., expanding the reach of one of the industry’s most recognized premium brands—Broccolini®—and bringing the sought-after vegetable to more retailers while maintaining the high standards consumers expect. Under this agreement, The Nunes Company will market and sell Broccolini® baby broccoli, further extending its availability while upholding the quality synonymous with Mann Packing’s reputation for fresh, premium produce.

Broccolini® baby broccoli was first introduced and exclusively trademarked by Mann Packing in 1998 and has been a category-defining product, known for its tender, slender stalks, delicate florets, and mild, slightly sweet taste with a hint of peppery freshness. Broccolini® baby broccoli is entirely edible—from stem to leaf, making it a favorite among chefs, retailers, and consumers alike. Previously available exclusively through Mann Packing, its rising demand prompted this strategic expansion, ensuring broader availability while upholding the premium quality that customers expect.

“This agreement is an important step in ensuring more consumers can experience the superior quality of Broccolini® baby broccoli,” said Sevag Zaroukian, Vice President of Operations at Mann Packing. “By partnering with The Nunes Company, we’re expanding our brand’s footprint while upholding the same high standards that have made Broccolini® a trusted name in fresh produce.”

The Nunes Company, Inc., founded in 1976, is widely recognized for its Foxy® brand, a mainstay in the fresh produce industry for nearly five decades. The addition of Broccolini® baby broccoli strengthens its portfolio of premium fresh vegetables, bringing together two well-established brands under one umbrella.

“For three generations, our family and our company have been stewards of the Foxy® brand, which was created to help introduce our produce to families throughout the United States and the world,” said Tom Nunes V, President of The Nunes Company. “Adding a trusted brand like Broccolini® to our own Foxy® label allows us to leverage the strength and reputation of both brands to bring our product to a wider audience.”

Retailers and consumers can expect to see Foxy®-branded Broccolini® baby broccoli available in stores in the coming months, further building on the collaborative relationship between Mann Packing and The Nunes Company, which began in 2024 with the sale of Fresh Leaf Farms.

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 Produce Inc. markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods Corporation II 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 Produce Inc. is the first global marketer of fruits and vegetables to commit to the “Science Based Targets” initiative. In 2022, 2023, and 2024 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. Additionally, Newsweek recognized Fresh Del Monte Produce as one of the “World’s Most Trustworthy Companies” in 2024, spotlighting the brand’s success in building investor, consumer, and employee trust on a global scale. Fresh Del Monte Produce was also named a Humankind 100 Company by Humankind Investments in 2024, 2023 and 2022, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250306571343/en/

Media Contacts:

Miranda Simonson

Havas Formula

freshdelmonte@havasformula.com

Claudia Pou

Vice President, Global Head of Corporate Communications

communications@freshdelmonte.com

Source: Fresh Del Monte Produce Inc.

FAQ

When will Foxy-branded Broccolini be available in stores under the FDP and Nunes Company agreement?

Foxy®-branded Broccolini® baby broccoli will be available in stores in the coming months following the licensing agreement.

What is the significance of the FDP licensing agreement with The Nunes Company?

The agreement expands Broccolini® distribution through The Nunes Company's Foxy® brand, increasing market reach while maintaining premium quality standards.

When was Broccolini first introduced by FDP's Mann Packing division?

Mann Packing exclusively trademarked Broccolini® baby broccoli in 1998.

How does this licensing agreement build on FDP and Nunes Company's existing relationship?

The agreement follows their previous collaboration from 2024 involving the sale of Fresh Leaf Farms.