Gables Business Briefs

Del monte in the News

Coral Gables-based Fresh Del Monte Produce has gotten plenty of press recently. For starters, they won first place in the Green and Environmental Stewardship category of the 2020 Corporate Social Responsibility Awards for carbon neutrality efforts on their tropical farms. Then the company announced it was adding six energy-efficient containerships to its fleet, close on the heels of a $2 million fine from the California Air Resources Board, stemming from clean air violations in California ports. Finally, Del Monte announced the launch of its newest product: Pink Pineapple (pink inside).

Big Payday

A lawsuit co-litigated by Coral Gables-based Moskowitz Law Firm won an $88 million class action settlement for 7,800 policy holders with Transamerica Life Insurance. The policy holders claimed Transamerica improperly increased monthly charges withdrawn from universal life policies. The attorneys in the case will receive a reported $19 million in fees and costs.

PayCargo Scores $35 million

Coral Gables-based PayCargo, a payment solutions network for the global supply chain industry, announced a $35 million investment led by global venture capital and equity firm Insight Partners. PayCargo will use the funds to expand its global network and to develop new technologies.

MasTec Goes Mobile

Coral Gables-based MasTec has announced a strategic partnership with Miami-based Brightstar Corp. to provide smartphone and tablet repair services to more than 85 percent of the U.S. population.

Bradesco’s Acquisition of BAC wins approval

The U.S. Federal Reserve has approved the acquisition of Coral Gables-based BAC Florida Bank by Brazilian financial powerhouse Banco Bradesco. BAC is the 5th largest community bank in South Florida, with $2.3 billion in assets. Bradesco will reportedly retain BAC Florida’s existing management.