Del Monte Foods Pacific has significantly increased its presence in the Chinese market by upping its stake in Chinese holding company Great Lakes (Tianjin) Fresh Foods and Juice Company and Great Lakes (Qinhuangdao) Fresh Foods and Juice Company, the company revealed in a statement to the Singapore Stock Exchange.


Del Monte Pacific said that it purchased an 11% stake in Abpak Company, the parent company of Great Lakes, from Great Lakes president Paul Leo Rasch for US$1.3m.


In July 2004, Del Monte Pacific purchased 89% of Abpak for a total of $6.3m. Del Monte’s latest acquisition means that Abpak and Great Lakes are now wholly owned subsidiaries.


“The company has made an offer to acquire from Paul Leo Rasch, the remaining 11% stake in Abpak for an aggregate consideration of $1.3m. The offer has been accepted by Paul Leo Rasch. This acquisition will be financed entirely by DMPL’s internal cash reserves,” Del Monte Pacific said.


Rasch will continue as president of Great Lakes.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Del Monte Pacific’s director Joselito Campos Jr commented: “We are committed to our investment in China and are confident that it will contribute to the group’s profitability in the medium term.”

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now