Global producer and distributor of fresh and fresh-cut fruit and vegetables Fresh Del Monte Produce has acquired California’s vegetable products processor and supplier Mann Packing through its North American subsidiary, Del Monte Fresh Produce (Del Monte).

As per the deal, Del Monte has agreed to acquire Mann Packing for an aggregate consideration of approximately $361m in cash.

The completion of the transaction is subject to regulatory approvals and is expected to close during the first quarter of this year.

Fresh Del Monte chairman and chief executive officer Mohammad Abu-Ghazaleh said: “We are extremely pleased about our acquisition of Mann Packing, a leader in the fresh and value-added vegetable category.

“This transaction will provide us with synergies, enhancing our ability to better serve our combined customers and address consumers’ needs for healthier products.”

“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.

“In addition, this transaction will provide us with synergies, enhancing our ability to better serve our combined customers and address consumers’ needs for healthier products.”

With the Mann Packing, Fresh Del Monte intends to expand its North American footprint and also further diversify the company’s operations.

Established in 1939 in Salinas, California, Mann Packing has been supplying ready to eat fresh-cut vegetables, snack packs and party trays, as well as washed and trimmed lettuce products for the food service and retail markets in North America.

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