Fresh produce giant Fresh Del Monte strikes deal to enter high-value specialty ingredients
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter.
Fresh fruit and vegetable giant Fresh Del Monte is buying a majority stake in Avolio, Uganda's leading supplier of bulk crude and edible avocado oil, for an undisclosed amount.
The Florida company said the purchase fits with its long-term strategy to grow its specialty ingredients and innovation business. In this case, Avolio will enable Fresh Del Monte to convert avocados into premium avocado oil. Avocados are one of the few fruits from which oil can be extracted from the pulp.
The purchase places Fresh Del Monte in the fast-growing avocado oil segment. The ingredient is expected to grow to a $1.2 billion business by 2032 from $637 million a year ago, according to Fortune Business Insights.
Fresh Del Monte is best known for its bananas, pineapples and other fresh produce displayed in the grocery store. While the company remains committed to the business, it recently created a biomass and specialty ingredients division to transform agricultural byproducts to boost the company's growth, enhance soil health and support human wellness.
'These efforts not only reinforce our environmental stewardship but also position us to compete in higher-margin categories that drive profitable growth and long-term shareholder value,' Fresh Del Monte Chairman and CEO Mohammad Abu-Ghazaleh said in a statement. 'Acquiring Avolio is a strategic step aligned with our long-term vision to extract greater value across our supply chain while advancing our commitment to sustainability.'
During its 2024 fiscal year, Fresh Del Monte's net sales fell to $4.28 billion compared with $4.32 billion in the prior-year period. The decrease in net sales was primarily due to lower sales volume and per unit selling prices in bananas as well as the negative impact of exchange rate fluctuations. Bananas were responsible for about a third of the company's net sales in 2024.
The purchase of Avolio not only improves Fresh Del Monte's environmental footprint and provides it with faster-growing channels to increase sales but also helps to further diversify the company's business and minimize disruption in other parts of its operations.
Fresh Del Monte said Avolio's extraction technology will be scaled to process 140 metric tons of avocados per day. It added that the technology, coupled with Fresh Del Monte's extensive supply chain expertise 'positions the two companies to lead the market in delivering high-quality, sustainable avocado oil solutions.'
Recommended Reading
Leftovers: Fresh Del Monte pineapples turn red | Little Bites get a little less sweet
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 days ago
- Yahoo
Post Holdings buys rest of Ronzoni pasta maker for $880M
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Post Holdings is spending $880 million to buy out the remainder of 8th Avenue Food & Provisions, which owns the Ronzoni pasta brand and makes a variety of dried goods such as granola and nuts. 8th Avenue was formed in 2018 when Post transferred its private label business to a new entity. Post sold a 39.5% stake in that entity to private equity firm THL, which it is now buying back. The deal is expected to close July 1, and Post will take over about $111 million in leases as part of the transaction. The acquisition further deepens Post's presence in both private label and branded food, allowing it to provide a wider range of price points. As economic headwinds prompt some consumers to pull back on spending, Post is positioning its business to remain competitive, regardless of the environment. In recent years, Post has built a presence in a particular food category and then ensured the company has both branded and private label offerings to sell to retailers and consumers. With its latest acquisition, Post will have a deeper presence in both segments for foods, such as nut butter, cereal and dry pasta. Once the transaction closes, Post will become the top private label player in peanut and tree nut butter as well as granola, while being No. 2 in dry pasta. 8th Avenue recorded net revenue of $1.1 billion in its fiscal 2024 year. 'With this acquisition, we further our strategy of tactical private label positioning alongside leading brands,' Post president and CEO Rob Vitale said in a statement. The purchase also creates other benefits for Post, whose branded food products include Grape-Nuts cereal, Bob Evans refrigerated sides and Peter Pan peanut butter. According to an investor presentation provided by the St. Louis-based company, the addition of the rest of 8th Avenue secures Post's Peter Pan nut butter supply and enables the food manufacturer to become more meaningful to retail partners in the category. The acquisition enables greater participation in the growing granola sub-category of ready-to-eat cereal, complementing Post's existing business. In addition, Post gains exposure to dry pasta, something the holding company did not have before. Post described the transaction as 'an attractive capital allocation opportunity.' The purchase is expected to increase cash flow and create synergies of about $15 million annually. Post, which traces its roots to being a cereal-only company, became a sprawling food company with a presence in many categories through M&A. Similar to that acquisition strategy, 8th Avenue was formed seven years ago to look for M&A opportunities, eventually acquiring peanut butter and Ronzoni pasta. However, Post said a challenged capital structure following COVID-19 made it hard for 8th Avenue to fully execute its M&A strategy. Post noted last month that tariffs and economic uncertainty have slowed 'what was an active M&A pipeline,' according to Jeff Zadoks, the company's COO. He added that Post would focus on 'smaller tactical transactions' that have a 'clear line of sight to synergies.' Recommended Reading Inside Post Holdings' transformation from cereal slinger to a diversified CPG giant Sign in to access your portfolio
Yahoo
5 days ago
- Yahoo
Fresh Del Monte Brings Its Iconic Pinkglow® Pineapple to the UAE, Redefining the Premium Fruit Market
This pineapple variety will be available only on talabat mart for a limited time. DUBAI, United Arab Emirates, June 04, 2025--(BUSINESS WIRE)--Fresh Del Monte Produce Inc. (NYSE: FDP), a global leader in fresh produce and the world's only grower of the patented Pinkglow® pineapple, is expanding the global footprint of its premium pink-fleshed fruit with an exclusive launch in the United Arab Emirates. Beginning June 4, consumers in the UAE can purchase Pinkglow® pineapples only on talabat mart, the quick-commerce arm of talabat, the leading on-demand delivery platform in the MENA region. With its vibrant pink interior, delicate sweetness, and striking presentation, Pinkglow® pineapple has captivated global audiences since its debut. The pineapple is the result of over 16 years of research and development and is exclusively grown in Costa Rica and distributed by Fresh Del Monte, whose vertically integrated operations ensure rigorous quality, sustainability, and flavor standards from field to shelf. Until now, the Pinkglow® pineapple has only been available in select markets across North America and Asia, making its arrival in the UAE a major milestone in its global expansion. In the UAE, the Pinkglow® pineapple will be: Available only on talabat mart for six months. Sold in limited quantities weekly. Priced at AED 125 (approx. USD 34), positioning it as a premium fruit experience. Delivered in bespoke packaging, reinforcing its status as a giftable, must-try delicacy. "This launch is a continuation of our mission to reimagine how the world experiences pineapples," said Racha El Aawar, Fresh Del Monte's Director of Regional Marketing in the Middle East. "We're not just selling fruit—we're curating indulgent, memorable moments rooted in decades of agricultural innovation. talabat mart's reach and cultural resonance in the UAE make them the perfect partner to introduce the Pinkglow® pineapple to consumers in the Middle East." Alix Julien de Zelicourt, General Manager, talabat mart said, "At talabat mart, we take pride in consistently unearthing unique and premium products for our customers; a true reflection of our pioneering spirit. The Pinkglow® pineapple celebrates this: bold, vibrant, and extraordinary. We're proud to be the only platform bringing this iconic fruit to customers in the UAE." Since its debut, Pinkglow® pineapples have become a global phenomenon, embraced by celebrities, tastemakers, influencers, and event planners for their visually stunning pink flesh and vibrant aesthetic. Whether served at luxury brunches, styled on social feeds, or gifted as a statement piece, Pinkglow® pineapple delivers both flavor and flair. Today, Fresh Del Monte remains the unrivaled leader in the global pineapple category, offering proprietary varieties like Honeyglow® pineapples, Rubyglow® pineapples, Pinkglow® pineapples, and the DM Zero® pineapple—each designed to elevate taste, appearance, and appeal to different consumers. The company's vertically integrated model enables rapid innovation and quality control across the supply chain, responding to evolving consumer preferences with unmatched agility. Follow the Pinkglow® pineapple journey around the world on Instagram: @pinkglowpineapple. To get more updates from Del Monte Arabia and talabat, follow @delmontearabia and @talabatuae. ABOUT FRESH DEL MONTE 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 food in Europe, Africa, and the Middle East. Fresh Del Monte Produce Inc. markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN® brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte Produce Inc. is the first global marketer of fruits and vegetables to commit to the "Science Based Targets" initiative. In 2022, 2023, and 2024, Fresh Del Monte Produce was ranked as one of "America's Most Trusted Companies" by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. The company was also named a Humankind 100 Company for two consecutive years by Humankind Investments, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte has also been awarded the SEAL Business Sustainability Awards four times in the last five years (2021, 2023, 2024, and 2025). Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP. About talabat talabat is the leading on-demand delivery platform in the Middle East and North Africa (MENA) region, offering customers a convenient and personalized way to order food, groceries, and other convenience products from a wide selection of restaurants and retailers. Founded in Kuwait in 2004, talabat has expanded its operations to the United Arab Emirates, Oman, Qatar, Bahrain, Jordan, Iraq, and Egypt, serving over six and a half million active customers as of December 2024. talabat is headquartered in Dubai, the United Arab Emirates and in December 2024, successfully completed its initial public offering on the Dubai Financial Market (DFM). As a subsidiary of Delivery Hero SE, talabat leverages global expertise to strengthen its market position and drive innovation in the on-demand delivery sector, focusing on expanding its product offerings and increasing market penetration across its operating regions. With a robust network of over thousands of partners and riders, talabat continues to solidify its leadership in the MENA region's on-demand delivery market, connecting customers, partners, and riders through its advanced technology platform. View source version on Contacts Media Contacts: Havas Formulafreshdelmonte@ Claudia PouVice President, Global Head of Corporate Communicationscommunications@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business Wire
Fresh Del Monte Brings Its Iconic Pinkglow® Pineapple to the UAE, Redefining the Premium Fruit Market
DUBAI, United Arab Emirates--(BUSINESS WIRE)-- Fresh Del Monte Produce Inc. (NYSE: FDP), a global leader in fresh produce and the world's only grower of the patented Pinkglow® pineapple, is expanding the global footprint of its premium pink-fleshed fruit with an exclusive launch in the United Arab Emirates. Beginning June 4, consumers in the UAE can purchase Pinkglow® pineapples only on talabat mart, the quick-commerce arm of talabat, the leading on-demand delivery platform in the MENA region. With its vibrant pink interior, delicate sweetness, and striking presentation, Pinkglow® pineapple has captivated global audiences since its debut. The pineapple is the result of over 16 years of research and development and is exclusively grown in Costa Rica and distributed by Fresh Del Monte, whose vertically integrated operations ensure rigorous quality, sustainability, and flavor standards from field to shelf. Until now, the Pinkglow® pineapple has only been available in select markets across North America and Asia, making its arrival in the UAE a major milestone in its global expansion. In the UAE, the Pinkglow® pineapple will be: Available only on talabat mart for six months. Sold in limited quantities weekly. Priced at AED 125 (approx. USD 34), positioning it as a premium fruit experience. Delivered in bespoke packaging, reinforcing its status as a giftable, must-try delicacy. 'This launch is a continuation of our mission to reimagine how the world experiences pineapples,' said Racha El Aawar, Fresh Del Monte's Director of Regional Marketing in the Middle East. 'We're not just selling fruit—we're curating indulgent, memorable moments rooted in decades of agricultural innovation. talabat mart's reach and cultural resonance in the UAE make them the perfect partner to introduce the Pinkglow® pineapple to consumers in the Middle East.' Alix Julien de Zelicourt, General Manager, talabat mart said, 'At talabat mart, we take pride in consistently unearthing unique and premium products for our customers; a true reflection of our pioneering spirit. The Pinkglow® pineapple celebrates this: bold, vibrant, and extraordinary. We're proud to be the only platform bringing this iconic fruit to customers in the UAE.' Since its debut, Pinkglow® pineapples have become a global phenomenon, embraced by celebrities, tastemakers, influencers, and event planners for their visually stunning pink flesh and vibrant aesthetic. Whether served at luxury brunches, styled on social feeds, or gifted as a statement piece, Pinkglow® pineapple delivers both flavor and flair. Today, Fresh Del Monte remains the unrivaled leader in the global pineapple category, offering proprietary varieties like Honeyglow® pineapples, Rubyglow® pineapples, Pinkglow® pineapples, and the DM Zero® pineapple—each designed to elevate taste, appearance, and appeal to different consumers. The company's vertically integrated model enables rapid innovation and quality control across the supply chain, responding to evolving consumer preferences with unmatched agility. Follow the Pinkglow® pineapple journey around the world on Instagram: @pinkglowpineapple. To get more updates from Del Monte Arabia and talabat, follow @delmontearabia and @talabatuae. 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 food in Europe, Africa, and the Middle East. Fresh Del Monte Produce Inc. markets its products worldwide under the DEL MONTE ® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN ® brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte Produce Inc. is the first global marketer of fruits and vegetables to commit to the 'Science Based Targets' initiative. In 2022, 2023, and 2024, Fresh Del Monte Produce was ranked as one of 'America's Most Trusted Companies' by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. The company was also named a Humankind 100 Company for two consecutive years by Humankind Investments, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte has also been awarded the SEAL Business Sustainability Awards four times in the last five years (2021, 2023, 2024, and 2025). Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP. About talabat talabat is the leading on-demand delivery platform in the Middle East and North Africa (MENA) region, offering customers a convenient and personalized way to order food, groceries, and other convenience products from a wide selection of restaurants and retailers. Founded in Kuwait in 2004, talabat has expanded its operations to the United Arab Emirates, Oman, Qatar, Bahrain, Jordan, Iraq, and Egypt, serving over six and a half million active customers as of December 2024. talabat is headquartered in Dubai, the United Arab Emirates and in December 2024, successfully completed its initial public offering on the Dubai Financial Market (DFM). As a subsidiary of Delivery Hero SE, talabat leverages global expertise to strengthen its market position and drive innovation in the on-demand delivery sector, focusing on expanding its product offerings and increasing market penetration across its operating regions. With a robust network of over thousands of partners and riders, talabat continues to solidify its leadership in the MENA region's on-demand delivery market, connecting customers, partners, and riders through its advanced technology platform.
