Stord’s Cloud Supply Chain to use Fresh Del Monte’s proven cold storage infrastructure as an expanded offering to brands requiring temperature or humidity-controlled logistics
ATLANTA, July 26, 2022 – Stord, the Cloud Supply Chain leader, and Fresh Del Monte, a global producer, distributor, and marketer of food products, today announced a collaboration that will utilize Stord’s Cloud Supply Chain solution and Fresh Del Monte’s cold storage infrastructure. Fresh Del Monte has 22 best-in-class facilities that are now available to Stord customers and integrated with Stord’s cloud technology. Now, brands requiring temperature or humidity-controlled logistics will have a proven, reliable option.
With this collaboration, Stord furthers its mission of making supply chains a competitive advantage for all brands, bringing Stord’s same Cloud Supply Chain innovation for ambient goods to the cold fulfillment space. Demand for cold storage is increasing rapidly as grocery sales via e-commerce channels continue to rise. As of last Fall, refrigerated and frozen foods accounted for 9% and 13%, respectively, of total e-commerce grocery sales, up from 4% for each category in early 2020.
While most brands still struggle to piece together disparate logistics solutions and disconnected technology, with Cloud Supply Chain, Stord offers all the physical logistics and digital technology that brands need in a scalable utility-based model. Now, brands selling frozen, refrigerated, and chilled products achieve the same best-in-class operations that hundreds of Stord customers—like BODYARMOR, Thrasio, Dollar General, Native, and Advance Auto Parts—currently enjoy.
“Our customers trust Stord to support their most critical operations. Whenever we bring a new partner into our network, we make sure that they uphold the highest standards of reliability and quality,” said Stord CEO and Co-founder Sean Henry. “Fresh Del Monte is a well-respected leader in the cold storage space, and we have complete confidence that this relationship will be a big win for our customers.”
Fresh Del Monte has been looking for additional ways to grow its distribution network and leverage underutilized assets, including shipping vessels, transportation vehicles, warehouses, and now its cold storage infrastructure. Through the relationship, Fresh Del Monte will provide Stord customers access to its large-scale, complex supply chain infrastructure, and cold storage facilities. While Fresh Del Monte is known for providing fresh produce, it has other business lines that are powerhouses on their own, particularly its logistics network. The company owns Network Shipping, a third-party shipping network that transports goods across the world; and Tricont Trucking and Tricont Logistics, which utilize the company’s ships, ports, and temperature-controlled warehouses strategically located throughout 34 facilities in North America.
“We’re proud to work with Stord to bring our state-of-the-art cold infrastructure to scaling businesses,” said Fresh Del Monte Chairman and CEO Mohammad Abu-Ghazaleh. “We have an impressive logistics infrastructure, and it only makes sense to collaborate with a company like Stord as we continue to leverage our assets and grow our distribution network.”
Today’s announcement further cements Fresh Del Monte’s mission to continuously leverage its underutilized assets while also underscoring Stord’s continued momentum and comes on the heels of Stord increasing its network capacity and extending its Series D round to over $200M in funding at a valuation of $1.3B with a new investment led by Franklin Templeton. To learn more about Stord's Cloud Supply Chain approach, visit stord.com. To learn more about Fresh Del Monte’s offerings, please visit https://freshdelmonte.com/.
Stord is the leading Cloud Supply Chain provider enabling companies to compete and grow with world-class logistics—including warehousing, freight, and fulfillment—in a single, integrated platform that's available exactly when and where they need it. Hundreds of B2B and B2C companies like BODYARMOR, Native, Tula, Advance Auto Parts, Thrasio, and Dollar General use Stord to make their supply chains perform with the speed, flexibility, and ease of the cloud. Led by former operators from Amazon, XPO, and Manhattan Associates, Stord is headquartered in Atlanta and backed by leading investors, including Kleiner Perkins, BOND, Franklin Templeton, Founders Fund, Lux Capital, D1 Capital, Salesforce Ventures, Susa Ventures, and Lineage Logistics.
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. To learn more about the company, sign up for alerts at https://investorrelations.freshdelmonte.com