Food and beverage group Del Monte Pacific has bought a 40% stake in FieldFresh Foods, a venture between India’s Bharti Enterprises and UK investment firm EL Rothschild.
Del Monte Pacific, which is listed on the Singapore Stock Exchange, is to acquire a 40.1% share in FieldFresh by paying US$20.9m for 80.2% of EL Rothschild, which is to be renamed DMPL India Ltd. The Rothschild family will retain the remaining 19.8% of DMPL India.
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Bharti, meanwhile, is to retain its 50% share in FieldFresh Foods, set up in India in 2004 as a 50:50 venture between Bharti and Rothschild to produce and export fresh vegetables and fruits.
Del Monte Pacific is itself 80%-owned by NutriAsia Pacific, part of the NutriAsia Group, and is not an affiliate of Del Monte Corporation and its parent, Del Monte Foods Co. or Fresh Del Monte Produce.
