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SEMCAP Food & Nutrition Welcomes Fresh Del Monte as an Anchor Investor

PHILADELPHIA, March 13, 2024 - SEMCAP Food & Nutrition (SEMCAP) is pleased to announce the addition of Fresh Del Monte (NYSE: FDP) as a key partner and investor in the first closing of the firm’s inaugural Food & Nutrition investment strategy. Having launched the Food & Nutrition platform in 2021, the SEMCAP Food team executed three transactions prior to the launch of the Fund in Q4 2023. SEMCAP was pleased to partner with Fresh Del Monte on two of those three investments in Purely Elizabeth and Good Culture – both of which are experiencing rapid growth, are leaders in innovation and sustainability and have since become household names. Fresh Del Monte is also a strategic investor in SEMCAP’s next transaction which will be announced in the coming weeks. 

 

Mohammad Abu-Ghazaleh, Chairman & CEO of Fresh Del Monte, commented: “At Fresh Del Monte, we are fueled by innovation, sustainability, and our ongoing mission to nourish millions across the world with healthful foods. By further cementing our partnership with SEMCAP and supporting the launch of their fund, we can help identify and support the next generation of innovative food brands. By collaborating with like-minded organizations such as SEMCAP and innovative food brands, we can leverage our strengths and resources to create a meaningful impact across the food supply chain.”

 

SEMCAP is also pleased to welcome several other prominent investors and operators from the food and agricultural sectors as well as a number of prominent family offices. SEMCAP is grateful to have the support of all the investors that have participated in its Food & Nutrition strategy as it continues to invest in innovative food companies that support sustainable modern health and a better future for food.

 

SEMCAP was launched in 2020 by Walter “Buck” Buckley and Cyrus Vandrevala and has three divisions under its purview – food, health and education – which represent sectors that have a meaningful impact on humanity and are ripe for investment and disruption. “Consumers are fueling a massive food revolution, characterized by shifting food preferences and values among younger generations and a growing belief that food significantly impacts our health. We are thrilled to be part of this seismic shift, by identifying and helping to build the food and nutrition brands of the future,” said Buckley, SEMCAP Co-Founder and Managing Partner.

 

The Food & Nutrition investment group is led by John Haugen, Kate Storey and Ryan Newcom with offices in Canada and the U.S. The fund invests in environmentally sustainable, high-growth businesses with over $25 million in revenue that have category leading products that have achieved proof of concept and evidence of scale. Haugen and Newcom are seasoned business operators, having run several General Mill’s brands, large business units and General Mill’s investment arm, 301inc. SEMCAP seeks to drive accelerated growth and outsized returns for investors, by leveraging its decades of operational expertise, and proven growth strategies across all business functions (i.e. marketing, operations, supply chain, logistics, innovation, commercial and cross-border synergies).

 

“With Fresh Del Monte’s support in the first close of our investment strategy, we can focus on truly following the consumer,” Haugen said. “We can reimagine where the food system is going and make investments that I think can drive great returns for our shareholders, and also create a really positive impact on the future of food.”

 

Fresh Del Monte is one of the world’s leading producer, distributor and marketer of fresh fruits and vegetables, dedicated to providing wholesome, convenient foods to millions across the world. Fresh Del Monte produces a wide variety of fruits and vegetables that are sold in more than 90 countries. SEMCAP and Fresh Del Monte share underlying deeply ingrained values around making fresh, healthy food accessible to all, as well as a focus on sustainable growing practices, reducing emissions and waste and supporting regenerative agriculture practices.

 

 

ABOUT SEMCAP FOOD & NUTRITION

SEMCAP Food & Nutrition invests in remarkable food companies that support sustainable modern health and a better future for food. Led by a highly skilled investment team with deep operating and investing experience in consumer packaged goods, the team provides unique deal insight and support for strategic partnering and enhanced growth. SEMCAP Food & Nutrition partners with companies whose products emphasize organic, natural, non-GMO, and plant-based foods as well as efficient supply chain and delivery and low-waste packaging. SEMCAP Food & Nutrition is one of SEMCAP’s three platforms - health, education, and food. SEMCAP is a growth equity company committed to investing behind seminal trends in these sectors that have the greatest impact on humanity.

 

ABOUT FRESH DEL MONTE

Fresh Del Monte Produce Inc. (NYSE: FDP) 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, 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 and 2023, 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. The company was also named a Humankind 100 Company for two consecutive years by Humankind Investments, 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.

 

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This release is provided for informational purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. This material may contain estimates and forward-looking statements, which may include forecasts and do not represent a guarantee of future performance. This information is not intended to be complete or exhaustive and no representations or warranties, either express or implied, are made regarding the accuracy or completeness of the information contained herein. The views expressed are as of March 1, 2024 and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves significant risks.

 

 

©2024 Seminal Capital Holdings, LLC. All rights reserved. SEMCAP is a trademark of Seminal Capital Holdings, LLC.

 

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