Fresh Del Monte Produce Inc has acquired for cash Standard Fruit and Vegetable Co, a Dallas TX-based integrated distributor of fresh fruit and vegetables with annual revenues of $335 million. This acquisition enhances Fresh Del Monte's diversification strategy by expanding its product mix, advancing its vertical integration, and increasing its United States presence in key markets, particularly the Southwest.
Coral Gables FL-based Fresh Del Monte expects to realize substantial cost savings from this acquisition as it integrates distribution, sales, marketing, transportation, and purchasing with its own infrastructure.
