Coral Gables, Fla.-based Del Monte Fresh Produce has agreed to purchase Salinas, Calif.-based Mann Packing for $361 million.
The deal is expected to close in the first quarter of this year, according to a news release.
“Mann Packing’s strength in the vegetable category, one of the fastest-growing fresh food segments, will provide us with synergies, enhancing our ability to better serve our combined customers and address consumers’ needs for healthier products,” Mohammad Abu-Ghazaleh, Del Monte chairman and CEO, said in the release. “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.”
Mann Packing sales in 2017 were $535 million.
“Everyone at Mann is excited with this development,” Lorri Koster, chairman and CEO of Mann Packing, said in the release. “We share Del Monte’s values and commitment of providing fresh, high-quality produce based foods that are nutritious and delicious. Both our companies have been successful in their own right with their superior quality, service and value to our customers and consumers in all channels throughout North America. This will only be enhanced by combining the business expertise and skills of two of the industry’s premiere organizations.”
Story by Ashley Nickle at Thepacker.com