iFoodDS is increasing its investment in Trace Exchange, its connected food traceability platform, as part of a strategic refocusing that includes selling its Quality Insights business to Foods Connected. Financial terms of the transaction were not disclosed.
The transaction allows iFoodDS to focus additional resources on Trace Exchange as food companies face growing demands for supply chain transparency, food safety, traceability, and regulatory readiness.
Trace Exchange is designed to connect food companies with trading partners so they can exchange traceability data across increasingly complex supply chains.
iFoodDS plans to increase investment in the platform’s network, customer success operations, product development and ecosystem partnerships.
The company sees traceability becoming a strategic priority rather than simply a regulatory compliance function.
Food companies increasingly need to understand where products and ingredients originate, move information between trading partners and respond more quickly when safety or compliance problems emerge.
Trace Exchange is intended to provide the connectivity layer supporting those activities.
The platform helps organizations exchange traceability information between different companies and systems rather than requiring every participant in a food supply chain to use the same underlying software.
iFoodDS believes expanding the network can provide customers with better visibility into complex supply chains while improving collaboration among growers, manufacturers, distributors, retailers, and other trading partners.
The company also offers TraceApproved, a readiness program designed to help food companies prepare for the FDA’s Food Traceability Rule.
As part of the strategic shift, Quality Insights will become part of Foods Connected.
Foods Connected provides supply chain software spanning supplier compliance, quality inspection, food safety, product lifecycle management, specifications and procurement.
The company serves medium and large food manufacturers, retailers and foodservice organizations across the U.K., Europe, Australia and North America.
Foods Connected is backed by Apax Partners.
Customers currently using Quality Insights will transition to support from Foods Connected.
iFoodDS said it is focused on ensuring a smooth transition while it redirects more of its resources toward Trace Exchange.
For iFoodDS, the transaction narrows the company’s strategic focus around connected traceability and the opportunity to build a larger network linking food companies and their trading partners.
KEY QUOTES:
“Traceability has become a strategic priority across the food industry. Organizations are looking for better ways to connect with trading partners, exchange data, and respond more effectively to food safety and compliance challenges.”
“This step enables us to deepen our focus on Trace Exchange, accelerate innovation, and continue helping companies gain greater visibility into complex supply chains.”
“By sharpening our focus around Trace Exchange, we are strengthening our ability to help customers build more connected, transparent, and resilient supply chains. This focus positions iFoodDS to create greater long-term value for food companies and their trading partners as traceability continues to grow in importance across the industry.”
“We are committed to supporting a smooth transition for all customers and stakeholders associated with Quality Insights.”
Scott Mathews, CEO of iFoodDS
