Three Del Monte entities will launch a series of JVs, including a Del Monte retail concept to be rolled out in the US.
Del Monte Pacific (DMPL), a subsidiary of Del Monte Foods and Fresh Del Monte Produce have agreed to launch the retail F&B concept modelled after a Fresh Del Monte Produce business in the Middle East. They also agreed to expand the distribution of refrigerated goods internationally.
Initially the focus of the Del Monte retail stores will be in the US market with the potential for expansion into other territories, says DMPL, which is dual listed in the Philippines and Singapore.
The stores will offer foods and beverages aimed at consumers seeking healthier options. The companies are also collaborating on product innovations, including a line of chilled juices, new varieties of prepared refrigerated fruit snacks, and guacamole and avocado products.
As well as Del Monte, the group’s heritage brands include College Inn, Contadina and S&W, most of which originated in the US more than a century ago as premium packaged-food products. The group has exclusive rights to use the Del Monte trademarks for packaged products in the US, South America, the Philippines, the Indian subcontinent and Myanmar.
DMPL is 67 per cent owned by NutriAsia Pacific and Bluebell Group Holdings, which are beneficially owned by the Campos family of the Philippines. The NutriAsia Group sells liquid condiments, specialty sauces and cooking oil in the Philippines.
The JVs follow the full and final settlement of active litigation between the companies, which had been centered on licensing rights and product distribution in various international territories.