25 Meat and Seafood Companies Enter the Queue for ReposiTrak’s Expanding Traceability Network

Rhea-AI Summary

ReposiTrak (NYSE:TRAK), the leading food traceability and regulatory compliance network, is set to incorporate 25 new meat and seafood companies into its ReposiTrak Traceability Network® (RTN). These companies will exchange FDA-required Key Data Elements (KDEs) for each Critical Tracking Event (CTE) in their supply chains, ensuring compliance ahead of the January 2026 deadline. The new members include a prominent Florida-based importer, exporter, manufacturer, and distributor of frozen seafood and meat products, a global leader in vertically integrated protein companies, and a large Illinois-based importer and producer of various seafood. The RTN offers a hardware-free solution, allowing suppliers to connect with numerous trading partners for a flat fee. Chairman and CEO Randy Fields highlighted the network's expanding capabilities to meet the rising demands of traceability requirements beyond FDA mandates.

Positive

• 25 new meat and seafood companies joining ReposiTrak Traceability Network.
• Compliance with FDA's Key Data Elements (KDEs) and Critical Tracking Events (CTEs) ahead of January 2026 deadline.
• Network includes a diverse range of suppliers with significant market presence.
• ReposiTrak's hardware-free traceability solutions reduce implementation costs.
• Suppliers can connect to unlimited trading partners for a low, flat fee.
• Expanding network capabilities to meet increasing traceability demands beyond FDA requirements.

Negative

• Increased compliance and traceability requirements may lead to higher operational costs for participating companies.
• The impending January 2026 deadline could pressure companies to rapidly adapt their systems.

Insights

Market Research Analyst

The integration of 25 new meat and seafood companies into ReposiTrak's Traceability Network (RTN) represents a significant step in regulatory compliance and supply chain transparency. ReposiTrak's network already stands as the largest in food traceability and regulatory compliance and this expansion addresses a key market need driven by impending FDA deadlines.

From an investor's perspective, this move could mean enhanced market penetration and increased revenue streams for ReposiTrak. By onboarding companies ahead of the regulatory deadlines, they solidify their market positioning as a leading solution provider, potentially attracting further business from other organizations facing similar compliance pressures.

Given the diverse background of the new companies, ranging from major importers to vertically integrated protein firms, ReposiTrak stands to benefit from a wider array of data inputs, which could enhance the robustness and reliability of their offerings. This expansion also aligns with broader industry trends emphasizing sustainability and ethical sourcing, areas increasingly critical to both consumers and regulatory bodies.

In the short term, the onboarding process may incur some operational costs; however, the long-term benefits, including ongoing subscription fees and enhanced data fidelity, could outweigh these initial expenditures.

Tech Expert

The announcement highlights ReposiTrak’s commitment to providing innovative solutions without the need for additional hardware or software. This is a strong selling point, as it reduces both the complexity and cost barriers for new companies joining the network.

From a technology standpoint, the scalability and ease of integration of the RTN are particularly noteworthy. It implies that the system is robust and flexible enough to handle a significant influx of new data without compromising performance or reliability. This is important for maintaining operational efficiency as the network grows.

Moreover, the ability to connect to an unlimited number of trading partners for a low, flat fee is likely to be a major selling point. It suggests that the platform is designed with scalability in mind, accommodating future growth without imposing prohibitive costs on its users. This could make ReposiTrak an attractive option for other companies that are still searching for a reliable traceability solution.

Ahead of regulatory deadlines, 25 meat and seafood companies are queued to join ReposiTrak for its innovative, hardware-free traceability solutions

SALT LAKE CITY--(BUSINESS WIRE)-- ReposiTrak (NYSE:TRAK), the world’s largest food traceability and regulatory compliance network, leveraging its established inventory management and out-of-stock reduction SaaS platform, is preparing to welcome 25 new meat and seafood companies into the queue for the ReposiTrak Traceability Network^® (RTN). These new members will efficiently exchange intricate, FDA-required Key Data Elements (KDEs) for each Critical Tracking Event (CTE) in their supply chains, ensuring proactive compliance well before the January 2026 deadline.

The 25 meat and seafood companies joining the queue represent a diverse range of suppliers, each with unique strengths and specialties. Among them, a Florida-based company is a leading importer, exporter, manufacturer, and distributor of quality frozen seafood and meat products, serving both the U.S. and international markets. Another notable member is one of the world's leading vertically integrated protein companies, renowned for its commitment to sustainability and ethical practices. Additionally, an Illinois-based firm is recognized as one of the largest importers and producers of shrimp, mussels, lobsters, crab and finfish, setting high standards in the seafood industry.

“As our network grows, so does the list of foods being tracked. Some major retailers and wholesalers now require traceability for foods beyond the FDA’s Food Traceability List,” stated Randy Fields, chairman and CEO of ReposiTrak. “Our traceability solutions are designed to handle these demands seamlessly, ensuring all participants, whether retailers or suppliers, can meet their specific traceability requirements efficiently.”

The ReposiTrak Traceability Network requires no additional hardware or software and the ReposiTrak team assists in making the connections needed under the new regulation. Suppliers can connect to an unlimited number of trading partners and share data for a low, flat fee.

About ReposiTrak

ReposiTrak (NYSE: TRAK), formerly Park City Group, provides retailers, suppliers and wholesalers with a robust solution suite to help reduce risk and remain in compliance with regulatory requirements, enhance operational controls and increase sales with unrivaled brand protection. Consisting of three product families – food traceability, compliance and risk management and supply chain solutions – ReposiTrak’s integrated, cloud-based applications are supported by an unparalleled team of experts. For more information, please visit https://repositrak.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612452422/en/

Investor Relations Contact:

John Merrill, CFO

Investor-relations@repositrak.com

Or

FNK IR

Rob Fink

646.809.4048

rob@fnkir.com

Source: ReposiTrak

FAQ

What is ReposiTrak (NYSE:TRAK) doing to enhance traceability?

ReposiTrak is incorporating 25 new meat and seafood companies into its Traceability Network to exchange FDA-required Key Data Elements for Critical Tracking Events.

When is the deadline for FDA traceability compliance?

The deadline for FDA traceability compliance is January 2026.

How does the ReposiTrak Traceability Network® ensure compliance?

The network allows efficient exchange of FDA-required Key Data Elements for each Critical Tracking Event without needing additional hardware or software.

Are there any costs associated with joining the ReposiTrak Traceability Network®?

Suppliers can connect to an unlimited number of trading partners and share data for a low, flat fee.

Which companies are joining the ReposiTrak Traceability Network®?

The new members include a Florida-based importer and distributor of frozen seafood and meat, a vertically integrated protein company, and an Illinois-based seafood importer and producer.