Ecoark to submit bid for acquiring beef processing firm in US

US-based Ecoark Holdings doing business as Zest Technologies (Zest) has received approval from its board members to submit a bid for purchase certain assets of a beef processing plant, which is currently in a sales process carried out under Section 363 of the US Bankruptcy Code.

The company noted that the bid will be subject to the receipt of competing for offers from other potential bidders and court approval.

Zest Technologies chairman and CEO Randy May said: “We see a tremendous opportunity to introduce disruptive technology to the beef supply chain to track and trace pedigree, farming practices, authenticity, food safety and freshness from the birth of the animal through to the retail store or restaurant.

“We have a proven packing plant turnaround team, which we plan to insert into this operation to work alongside its current management to create a state-of-the-art operation with breakthrough technology.”

Zest has been providing a suite of freshness management solutions via Zest Labs to improve food distribution and delivery system through continuous condition monitoring and real-time prescriptive analytics.

Zest Labs CEO Peter Mehring said: “Consumers are increasingly expecting more information about the food they’re being served and are demanding true transparency in the perishable supply chain.

“Zest Fresh, with integrated blockchain support, can help address the increasing demand for complete visibility related to the provenance, source, quality, compliance and pedigree of meat from pasture to premium beef.”