Fresh Del Monte Produce Acquires U.K. Chilled Fresh-Cut Operations
CORAL GABLES, Fla. - Fresh Del Monte Produce Inc. today announced that it agreed to acquire U.K.-based Fisher Foods Limited's chilled division from the administrative receivers, KPMG. The acquisition includes three premium facilities dedicated to the handling of chilled fresh-cut fruit, bagged and dressed salads, and fresh-cut vegetables.
Building on the company's existing U.S. leadership position in the fresh-cut industry segment, this acquisition is Fresh Del Monte's first major step into the international fresh-cut market. The purchase will be funded by Fresh Del Monte's existing revolving credit facility and will more than double its fresh-cut revenues.
"U.K. consumers, like their North American counterparts, are increasingly demanding the ease and convenience of prepared fruit and vegetables. Fresh Del Monte's expanded presence in this market will allow us to tap into the rapidly growing global market in much the same way as we did in the U.S." said Fresh Del Monte chairman and CEO Mohammad Abu-Ghazaleh.
Building on the company's existing U.S. leadership position in the fresh-cut industry segment, this acquisition is Fresh Del Monte's first major step into the international fresh-cut market. The purchase will be funded by Fresh Del Monte's existing revolving credit facility and will more than double its fresh-cut revenues.
"U.K. consumers, like their North American counterparts, are increasingly demanding the ease and convenience of prepared fruit and vegetables. Fresh Del Monte's expanded presence in this market will allow us to tap into the rapidly growing global market in much the same way as we did in the U.S." said Fresh Del Monte chairman and CEO Mohammad Abu-Ghazaleh.