Del Monte Fresh Produce N.A., Inc. (“Del Monte”) entered into a definitive agreement on February 5, 2018 to acquire Mann Packing Co., Inc. (“Mann Packing”), an award-winning innovator and leading grower, processor and supplier of a broad variety of fresh and value-added vegetable products in North America. Mann Packing’s annual sales were approximately $535 million in 2017.
Del Monte will acquire Mann Packing for an aggregate consideration of approximately $361 million. The transaction is subject to regulatory approvals and other conditions that are customary for transactions of this type and is expected to close during the first quarter of 2018.
“We are extremely pleased about our acquisition of Mann Packing, a leader in the fresh and value-added vegetable category,” said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer of Fresh Del Monte. “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. 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.”
“Everyone at Mann is excited with this development” said Lorri Koster, Chairman and Chief Executive Officer of Mann Packing. “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.”
Contact:
Gabriela Reyes
Del Monte Fresh Produce N.A., Inc.
Tel: 305-520-8400
Gina Nucci
Mann Packing Co., Inc.
Tel: 831-214-3032