Vegetables and leafy greens supplier Church Brothers Farms has agreed to acquire Mann Packing vegetables business from Fresh Del Monte Produce.
Financial terms of the transaction were not disclosed.
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In a statement yesterday (21 October), the Florida-based fresh produce giant said Church Brothers Farms will take over operations at Mann Packing’s facility in Gonzales, California.
Brian Church, Church Brothers Farms CEO, said: “This transition marks a pivotal step in our growth journey, reinforcing our commitment to category leadership and accelerating our strategic expansion into retail – an essential pillar of Church Brothers’ future.”
It plans to use the Gonzales plant’s capacity to “expand its integrated supply network, enhance service capabilities, and deliver greater value to retail and foodservice customers”, the statement added.
Mohammad Abu-Ghazaleh, Fresh Del Monte’s chairman and CEO, added that this transaction “allows us to concentrate fully on our core products and higher-margin, value-added segments – areas where we continue to deliver the quality, reliability and innovation our customers expect”.
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By GlobalDataFresh Del Monte purchased Mann Packing in February 2018 for a sum of $361m.
The company booked a non-cash impairment of $131.2m in its fiscal fourth quarter to 29 December 2023, mainly linked to Mann Packing.
Nearly a year ago, following a review of the vegetable division, it sold the business’ Fresh Leaf Farms brand and operations to First Leaf Farms for an undisclosed sum.
In March, Fresh Del Monte acquired a majority stake in Uganda-based avocado oil supplier Avolio as part of its strategy to move into “high-value specialty ingredients”.
In August, it formed a joint venture with Managro Group, a Colombia-based agricultural company and exporter of limes and avocados.
The partnership includes a combined investment to expand an avocado and lime packing house in the South American nation to bolster supply chain capabilities and extend its presence in avocados and limes.
