Fresh Del Monte Acquires 39% Stake In Blockchain Technology Firm Decapolis

Shivani Kumaresan
1 min read
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In this article:

  • Fresh Del Monte Produce Inc (NYSE: FDP) has invested a 39% stake in Decapolis, a Jordanian and U.K.-based startup technology company.

  • Decapolis provides 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 sustainable solutions from which other businesses and industries can benefit.

  • The two companies plan to roll out Decapolis Food Guard (DFG), a blockchain-based traceability solution, across all Fresh Del Monte business segments.

  • DFG will provide full traceability solutions through the DFG chain of records capturing assessments at each production stage, from planting to distribution, through QR codes.

  • Anyone who scans the QR code will be able to see a complete log of product information from farm to fork.

  • "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," said Chairman and CEO Mohammad Abu-Ghazaleh.

  • Fresh Del Monte held $15.6 million in cash and equivalents as of July 1, 2022.

  • Price Action: FDP shares are trading higher by 4.61% at $24.73 on the last check Tuesday.

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