Del Monte to buy Mann Packing
Del Monte Fresh Produce has signed an agreement on Feb. 5 to acquire fresh and value-added vegetable supplier Mann Packing. Mann’s annual sales were approximately $535 million in 2017.
Del Monte will acquire Mann Packing for 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, Del Monte said.
“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,” said Mohammad Abu-Ghazaleh, chairman and chief executive officer of Fresh Del Monte.
“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.”
Mann Packing, established in 1939 and based in Salinas, California, is a grower and supplier in North America of fresh vegetables, including washed and ready to eat fresh-cut vegetables, snack packs and party trays, and washed and trimmed lettuce products for the food service and retail markets.