Coral Gables, Fla.-based Fresh Del Monte Produce has finalized its acquisition of Mann Packing.
Del Monte purchased Salinas, Calif.-based Mann for about $361 million.
Long associated primarily with bananas, Del Monte has been working for several years to diversify its business, and purchasing Mann accelerates its efforts to become more invested in fresh-cut. Its sales in the segment for 2017 were $607.8 million, up 18% from the previous year.
Mann’s product offering is roughly 50-50 between bulk vegetables and fresh-cut, Del Monte chairman and CEO Mohammad Abu-Ghazaleh noted in a recent earnings call.
Abu-Ghazaleh detailed in that call some of its plans to incorporate Mann into its operations.
“Take into consideration that Mann is mainly on the West Coast and partly in the Northeast ... however they don’t have too much, almost no activity in the Southeast and Southwest of the U.S., so that’s where we give a lot of new opportunities, a lot of new business that wasn’t existing, as well as leveraging our total infrastructure across the U.S. to improve marketing and distribution of Mann Packing,” Abu-Ghazaleh said on the call.