Fresh Del Monte Produce Inc. expands banana sourcing to Vietnam

The agreement, signed on November 26 during a ceremony at THACO Group headquarters in Ho Chi Minh City, establishes a long-term partnership for the sourcing of bananas from THACO AGRI's operations and aligns with Fresh Del Monte's strategy to broaden its global sourcing footprint and expand its presence in Southeast Asia. In addition, THACO AGRI will develop dedicated pineapple cultivation areas to meet Fresh Del Monte's demand through a suitable and phased roadmap.

“Partnering with THACO AGRI is an important step in strengthening our sourcing capabilities in Southeast Asia,” said Mohammad Abu-Ghazaleh, Fresh Del Monte's chairman and CEO. “Their scale and integrated-circular operations align with our long-term strategy to build a more resilient and diversified supply network.”

The partnership also supports Fresh Del Monte's efforts to address rising global production challenges across the banana industry, reinforcing the company's commitment to supply chain stability and long-term resilience.

THACO AGRI's agricultural platform spans more than 85,000 hectares across Vietnam, Cambodia, and Laos, applying a large-scale integrated-circular and organic production model, including fruit cultivation and livestock farming, ⁠in pursuit of its vision to become the leading agricultural corporation in ASEAN by 2027.

The partnership further enables THACO INDUSTRIES, THACO's mechanical engineering sub-holding, to work with Fresh Del Monte on mechanisation and automation solutions, leveraging its work with THACO AGRI to enhance agricultural productivity and operational efficiency.

“We highly appreciate our new partnership with Fresh Del Monte,” said Tran Ba ​​Duong, THACO's chairman. “This partnership is an important step for THACO AGRI's agricultural operations, and we look forward to building a stable, long-term collaboration that supports both organisations.”

The collaboration reflects both companies' shared focus on responsible growth, operational excellence, and meeting rising global demand through diverse, modern agricultural systems.

THACO Group will build a 786-hectare industrial park in Binh Duong at a cost of over $1 billion, with construction scheduled to start in September.

SACE, the Italian insurance and finance group fully owned by the Italian Ministry of Economy and Finance, together with HSBC and LBBW, has finalized two medium-long term loans totaling $139 million, guaranteed by SACE, for Gelex Group and THACO AGRI, two of Vietnam's leading industrial players.

THACO is showcasing its latest industrial and technological innovations at the National Achievements Exhibition in Hanoi, held to mark 80 years of independence and national progress.