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Del Monte Pacific, Fresh Del Monte Produce form JV in retail, refrigerated grocery products
2017/06/29
June 27, 2017
Del Monte Pacific Ltd., Philippines, and Fresh Del Monte Produce Inc., Coral Gables, Fla., formed a series of new joint ventures between the two companies that will result in expanded refrigerated offerings sold across all distribution and sales channels, as well as a new retail food and beverage concept modeled after the Fresh Del Monte Produce business in the Middle East. These joint ventures will initially focus on the U.S. market with the potential for expansion into other territories. This will also greatly increase the scale of the Del Monte brand.
 
“We are pleased that we have resolved our differences and put to rest the financial uncertainty that can arise from prolonged litigation,” says Rolando Gapud, chairman of the Board of Del Monte Pacific. “We look forward to combining the resources of Del Monte Pacific, our U.S. subsidiary Del Monte Foods and Fresh Del Monte Produce, and focusing our joint efforts on exciting new business opportunities that will provide consumers with more premium quality, healthy products.”
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