Del Monte Fresh Produce N.A. Inc. entered into a definitive agreement yesterday to acquire Mann Packing Co. Inc., a grower, processor and supplier of a 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, subject to regulatory approvals and other conditions that are customary for transactions of this type, 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 CEO of Del Monte Fresh. “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 CEO 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.”
Coral Gables, Florida-based Del Monte Fresh Produce markets its products in North America under Del Monte and other brands.
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 foodservice and retail markets.