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Blog Exposure - Fresh Del Monte Made $4 Million Equity Investment in Plant-Based Meal-Kit Company Purple Carrot

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LONDON, UK / ACCESSWIRE / May 09, 2018 / If you want access to our free research report on Fresh Del Monte Produce Inc. (NYSE: FDP), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FDP as the Company's latest news hit the wire. On May 07, 2018, the Company announced that it has made a $4 million equity investment in Purple Carrot, a plant-based meal kit provider in the United States. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Fresh Del Monte Produce most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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The strategic investment brings an infusion of capital for Purple Carrot as well as leverage to optimize its supply chain efficiency, gain access to the developing retail channel, and pursue unique opportunities for category expansion.

Acquisition will Create Increased Value through Product Mix and Channel Expansion

Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer of Fresh Del Monte, mentioned that this investment builds on the Company's commitment to seize growth opportunities that will further diversify its business, leverage its distribution network and infrastructure, and get healthful, fresh fruit, and vegetable offerings in as many channels as possible.

Mohammad added that Purple Carrot has tremendous growth momentum in the fast-growing plant-based food segment with a well-known brand and an authentic connection with its customers. Fresh Del Monte believes that there will be significant opportunities for the teams to create increased value through product mix and channel expansion.

Investment by Fresh Del Monte will Strengthen Purple Carrot's Ability to Create Meaningful Change and Improve its Core Product

Commenting on the acquisition, Andy Levitt, Founder and Chief Executive Officer of Purple Carrot, stated that securing this strategic investment from Fresh Del Monte is a huge validation of the Company's business model, and an important step forward.

Andy further added that this investment by Fresh Del Monte will strengthen Purple Carrot's ability to create meaningful and lasting change, improve its core product, and open up a world of possibilities for brand expansion.

According to data provided by Purple Carrot, plant-based dining is expected to double from 2015 to an estimated $25 billion in 2020, and meal kit market is projected to grow from $1.6 billion in 2016 to $35 billion in 2025.

Fresh Del Monte's Recent Acquisition Deal

On February 27, 2018, Fresh Del Monte's North America subsidiary, Del Monte Fresh Produce N.A., Inc. completed its previously announced acquisition of Mann Packing Co., Inc., an award-winning innovator and leading grower, processor and supplier of a broad variety of fresh and value-added vegetable products in North America. The aggregate purchase price for Mann Packing was approximately $361 million funded by cash on hand and borrowings under the Company's existing senior unsecured revolving credit facility. The Company expected the acquisition to be accretive to earnings in the first year.

About Purple Carrot

Launched in 2014, Purple Carrot delivers fresh, pre-portioned ingredients nationwide with simple step-by-step guidance for people to cook healthy, plant-based meals at home. Purple Carrot has built a vibrant community among health-conscious consumers seeking convenient, better for you, better for the environment, 100% plant-based food and beverage offerings.

About Fresh Del Monte Produce Inc.

Fresh Del Monte Produce is one of the world's leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables as well as a leading producer and distributor of prepared healthy snacks in Europe, Africa, and the Middle-East. The Company markets its products worldwide under the Del Monte® brand. Headquartered in Coral Gables, Florida, the Company includes operations in more than 100 countries globally.

Stock Performance Snapshot

May 08, 2018 - At Tuesday's closing bell, Fresh Del Monte Produce's stock fell 1.99%, ending the trading session at $47.33.

Volume traded for the day: 153.31 thousand shares.

Stock performance in the previous three-month period – up 2.18%; and past six-month period – up 1.78%

After yesterday's close, Fresh Del Monte Produce's market cap was at $2.34 billion.

Price to Earnings (P/E) ratio was at 20.15.

The stock has a dividend yield of 1.27%.

The stock is part of the Consumer Goods sector, categorized under the Farm Products industry.

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