Del Monte Fresh Produce N.A. has agreed to purchase Mann Packing Co. for US$361 million.
The deal is subject to regulatory approval but is expected to close in the first quarter of this year, according to a press release. Mann Packing, a California-based grower, processor and supplier in North America of fresh vegetables, reported annual sales around $535 million in 2017.
“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 allow us to diversify our business, leverage our distribution network and infrastructure and increase our market reach.”