Fresh Del Monte expands U.S. tomato operations
Two Fresh Del Monte Produce Inc (NYSE: FDP) subsidiaries have acquired around 7,200 acres of tomato-growing land and packhouses in the states of Florida and Virginia, along with the purchase of the necessary farm equipment.
In a release, chief executive officer Mohammad Abu-Ghazaleh expressed excitement over the expansion of the company's vertical integraiton of its tomato product line.
"The acquisition of field grown tomato assets in Florida and Virginia complements our state-of-the-art greenhouse operations in Costa Rica and Guatemala, gives us the opportunity to continue to expand our tomato and vegetable product offerings, and enables us to provide our customers with high-quality, locally grown produce, strengthening our competitive position in the tomato industry," he said.
"This acquisition is further proof of our commitment to our tomato category and expansion of our relationships with third party producers."