I Squared Weighs Takeover of Fresh Del Monte Produce

Infrastructure investor I Squared Capital is exploring an expanded partnership with Fresh Del Monte Produce Inc. that could include a takeover of the bananas distributor, according to people with knowledge of the matter.

Deliberations are at an early stage and there’s no guarantee a deal will be reached, the people said, asking to not be identified because the matter isn’t public. I Squared and Del Monte announced a partnership in 2021 that involved the fruit producer investing in one of its funds. They also said they would share investment prospects and co-invest in deals.