Del Monte and Riverking Form Joint Venture for China Fresh-Cut Fruit

M&A · Partnership
โดย Business Wire·CNUS·Read original
Summary · why it matters

Del Monte Corporation announced that its subsidiary, Del Monte Fresh Produce (HK) Ltd., has entered into a joint venture with Riverking (Shanghai) Agricultural Technology Development Co., Ltd. to expand into China's fresh-cut fruit segment. The partnership combines Del Monte's brand strength and fresh-cut expertise with Riverking's local sourcing and distribution network, aiming to capture growth in a market where China is expected to account for about 45% of Asia's fresh-cut produce market by 2034. The agreement was announced during Asia Fruit Logistica in Hong Kong, where Del Monte President and COO Mohammed Abbas met with Riverking Founder and Chairman Zhang Ming. Del Monte, which trades on the New York Stock Exchange under the symbol DMC, and Riverking, a Shanghai-based integrated fruit enterprise with annual import and export volume exceeding 10,000 containers, will jointly deliver branded, premium fresh-cut fruit to Chinese consumers.

Impact on stocks 2

Consumer Staples▲ · 2 stocks
Del Monte Corporation
DMC
▲ PositiveDemandrelevance

Del Monte forms a China joint venture with Riverking to expand into the fresh-cut fruit segment, adding a new market for its branded products.

Off-coverage companies 1

Riverking (Shanghai) Agricultural Technology Development Co., Ltd.Private▲ Positive
Demandrelevance

Riverking partners with Del Monte to jointly deliver branded premium fresh-cut fruit to Chinese consumers, expanding its business.

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