U.S. Markets closed

Blog Exposure - Fresh Del Monte Acquired Mann Packing

Stock Monitor: Industrias Bachoco Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 08, 2018 / Active-Investors.com has just released a free research report on Fresh Del Monte Produce Inc. (NYSE: FDP). If you want access to this report 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 February 06, 2018, the Company announced that its North America subsidiary, Del Monte Fresh Produce N.A., Inc. ("Del Monte") inked an agreement to acquire California based Mann Packing Co., Inc., for approximately $361 million. Register today and get access to over 1000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Industrias Bachoco, S.A.B. de C.V. (NYSE: IBA), which also belongs to the Consumer Goods sector as the Company Fresh Del Monte Produce. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=IBA

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:

www.active-investors.com/registration-sg/?symbol=FDP

Established in 1939, Mann Packing is 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 Company's annual sales were approximately $535 million in 2017.

Details of the Agreement

The purchase amount will be financed with cash on hand and the Company's existing credit facility. Fresh Del Monte expects the acquisition to be accretive to earnings in the first year. The transaction, expected to close in Q1 2018, is subject to regulatory approvals and other customary conditions. Rabobank served as the exclusive financial advisor to Fresh Del Monte.

Acquisition will Allow Fresh Del Monte to Diversify its Business

Commenting on the acquisition, Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer of Fresh Del Monte, expressed that Mann Packing's strength in the vegetable category, one of the fastest growing fresh food segments, will allow Fresh Del Monte to diversify its business, leverage its distribution network and infrastructure and increase the Company's market reach. Additionally, this transaction will provide the Company with synergies, enhancing its ability to better serve the combined customers and address consumers' needs for healthier products. Mohammad added that this acquisition is a significant step towards the Company's goal to be the world's leading supplier of healthful, wholesome, and nutritious fresh and prepared food and beverages for consumers.

Fresh Del Monte and Del Monte Pacific Formed Joint Ventures in Refrigerated Grocery Products

In June 2017, Fresh Del Monte and Del Monte Pacific Limited (DMPL) announced a series of new joint ventures between the two companies that resulted in expanded refrigerated offerings sold across all distribution and sales channels, and a new retail food and beverage concept modeled after an already successful Fresh Del Monte Produce business in the Middle-East. These joint ventures are initially focusing on the US market with the potential for expansion into other territories where the companies' businesses complement each other. This has greatly increased the scale of the Del Monte® brand by expanding into more high-quality, healthy, and convenient product options for consumers.

DMPL, together with its subsidiaries, is a global branded food and beverage company that caters to today's consumer needs for premium quality healthy products. The Group innovates, produces, markets, and distributes its products worldwide. DMPL and its subsidiaries are not affiliated with certain other Del Monte companies in the world, including Fresh Del Monte Produce Inc.

About Fresh Del Monte Produce Inc.

Fresh Del Monte Produce Inc. 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

February 07, 2018 - At Wednesday's closing bell, Fresh Del Monte Produce's stock declined 1.38%, ending the trading session at $45.68.

Volume traded for the day: 134.36 thousand shares.

After yesterday's close, Fresh Del Monte Produce's market cap was at $2.33 billion.

Price to Earnings (P/E) ratio was at 16.82.

The stock has a dividend yield of 1.31%.

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

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors