Fresh Del Monte’s Goes with Stord’s Cloud Supply Chain
July 27, 2022
Fresh
Del Monte 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. |