Fresh Del Monte to Bring Red-Shelled Pineapple, the Rubyglow® Pineapple, to Europe in Early 2025

Rhea-AI Summary

Fresh Del Monte Produce Inc. (NYSE: FDP) announces plans to introduce its Rubyglow® pineapple in Europe in early 2025, following successful launches in China (January 2024) and North America (May 2024). This red-shelled pineapple, developed over 15 years, features a red outer skin, bright yellow flesh, and a sweet flavor similar to Del Monte Gold® Extra Sweet pineapples.

The Rubyglow® pineapple is grown in Costa Rica and takes two years to cultivate. It's a hybrid fruit produced through traditional crossbreeding of a traditional pineapple and a Morada pineapple. The seed supply and intricate cultivation process contribute to its global scarcity.

Fresh Del Monte continues to lead pineapple innovation, having introduced various unique varieties since the 1990s. The company markets its products worldwide under the DEL MONTE® brand and has received recognition as one of 'America's Most Trusted Companies' by Newsweek in 2022, 2023, and 2024.

Positive

• Introduction of innovative Rubyglow® pineapple to European market, expanding product portfolio
• Successful launches in China and North America, indicating strong market demand
• Exclusive product with registered plant patent in the United States
• Continued leadership in pineapple innovation, reinforcing market position

Negative

• supply due to two-year cultivation cycle and scarce seed availability
• Delayed European launch compared to other markets (early 2025 vs 2024 for China and North America)

Insights

Market Research Analyst

Fresh Del Monte's introduction of the Rubyglow® pineapple to Europe in 2025 represents a strategic expansion of their premium fruit portfolio. This move follows successful launches in China and North America, indicating strong market demand for novel, high-quality produce.

The Rubyglow® pineapple's unique red exterior and sweet flavor profile position it as a premium product, likely commanding higher margins than traditional pineapples. This aligns with Fresh Del Monte's strategy of innovation-driven growth and market differentiation.

However, the supply due to the complex cultivation process may constrain revenue potential in the short term. The two-year growth cycle and scarcity could create both exclusivity appeal and supply chain challenges.

For investors, this product launch signals Fresh Del Monte's commitment to innovation and premium offerings, which could positively impact brand value and pricing power. The company's track record of successful pineapple innovations, including the Del Monte Gold® Extra Sweet, suggests potential for long-term market share gains in the specialty fruit segment.

Agricultural Scientist

The Rubyglow® pineapple represents a significant achievement in agricultural innovation. Developed through traditional crossbreeding over 15 years, it demonstrates Fresh Del Monte's long-term investment in R&D and genetic improvement.

The hybrid nature of Rubyglow®, combining traits from edible and inedible pineapple varieties, showcases advanced breeding techniques. This approach can lead to improved fruit characteristics without genetic modification, appealing to consumers seeking "natural" products.

The two-year cultivation cycle and seed supply highlight the complexity of scaling specialty crop production. This could present both a challenge in meeting demand and an opportunity for premium pricing.

From a sustainability perspective, the naturally ripened, crownless presentation may reduce waste and improve shipping efficiency. However, the extended growth period could impact resource use and carbon footprint, factors increasingly important to environmentally conscious consumers and investors.

Rubyglow^® pineapples will be introduced in Europe due to market demand, following January 2024 launch in China and May 2024 launch in North America

CORAL GABLES, Fla.--(BUSINESS WIRE)-- Fresh Del Monte Produce Inc. (NYSE: FDP), one of the world’s leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruits and vegetables, today announces it will offer its latest pineapple innovation, the Rubyglow^® pineapple, in Europe in early 2025. This red-shelled pineapple has a red outer skin, bright yellow flesh, and a new, sweet flavor similar to Del Monte Gold^® Extra Sweet pineapples. The Rubyglow^® pineapple’s initial launch in China in January last year prompted a global waitlist and a subsequent launch in North America in May 2024. The waitlist is now open in various European countries — those already on the list will be contacted once product becomes available. The company anticipates the soonest delivery to be early 2025.

(Photo: Business Wire)

“We are proud to introduce our latest pineapple innovation, the Rubyglow^® pineapple to the European region. This Del Monte exclusive pineapple further cements our global leadership position in the pineapple market,” said Mohammad Abu-Ghazaleh, Chairman and CEO of Fresh Del Monte. “Our scientists continue to elevate the bar by creating new pineapple varieties, with varied tastes and colors, that cater to more and more consumers worldwide.”

Grown in Costa Rica, the Rubyglow^® pineapple has been in development for more than 15 years and has a registered plant patent in the United States. It is a cross between a traditional pineapple and a Morada pineapple — which is typically inedible — making the Rubyglow^® pineapple a hybrid fruit produced through traditional crossbreeding techniques. It takes two years to grow each Rubyglow^® pineapple, which are then naturally ripened on the plant and sold crownless in elegantly designed packaging. This intricate and time-consuming cultivation cycle — coupled with limited seed supply — are the reasons behind the scarcity of Rubyglow^® pineapples globally.

Fresh Del Monte has been leading pineapple innovation globally since the 1990s with the debut of the Del Monte Gold® Extra Sweet pineapple, the first of its kind. The pineapple has a golden color and, at that time, was much sweeter than any other pineapple on the market. Since then, the company’s robust pineapple program has released the Pinkglow^® pineapple (not available in Europe), the Honeyglow^® pineapple, the Del Monte Zero® pineapple, and now the Rubyglow^® pineapple.

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/20241007291340/en/

Claudia Pou

Vice President, Global Head of Corporate Communications

communications@freshdelmonte.com

Source: Fresh Del Monte Produce Inc.

FAQ

When will Fresh Del Monte (FDP) launch the Rubyglow® pineapple in Europe?

Fresh Del Monte plans to launch the Rubyglow® pineapple in Europe in early 2025.

What are the unique features of Fresh Del Monte's (FDP) Rubyglow® pineapple?

The Rubyglow® pineapple has a red outer skin, bright yellow flesh, and a sweet flavor similar to Del Monte Gold® Extra Sweet pineapples. It's a hybrid fruit produced through traditional crossbreeding.

How long does it take to grow a Rubyglow® pineapple for Fresh Del Monte (FDP)?

It takes two years to grow each Rubyglow® pineapple, which contributes to its scarcity in the global market.

Where has Fresh Del Monte (FDP) already launched the Rubyglow® pineapple?

Fresh Del Monte launched the Rubyglow® pineapple in China in January 2024 and plans to launch it in North America in May 2024.