Fresh Del Monte Produce, through its North American subsidiary Del Monte Fresh Produce, has acquired US vegetable producer Mann Packing for $361 million as it aims to expand in North America.
Mann Packing’s annual sales were approximately $535 million in 2017 and Del Monte expects the transaction to be completed in the first quarter of 2018.
Established in 1939 and based in Salinas, California, Mann grows, processes and supplies fresh vegetables, including washed and ready-to-eat vegetables, snack packs and party trays, as well as washed and trimmed lettuce products for the food service and retail markets.
Fresh Del Monte CEO Mohammad Abu-Ghazaleh said: “We are extremely pleased about our acquisition of Mann Packing, a leader in the fresh and value-added vegetable category.
“Mann Packing’s strength in the vegetable category, one of the fastest growing fresh food segments, will allow us to diversify our business, leverage our distribution network and infrastructure and increase our market reach.
“In addition, this transaction will provide us with synergies, enhancing our ability to better serve our combined customers and address consumers’ needs for healthier products. This acquisition is a significant step toward our goal to be the world’s leading supplier of healthful, wholesome and nutritious fresh and prepared food and beverages for consumers.”
Source: FoodBev
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