Our legal name is Fresh Del Monte Produce Inc., and our commercial name is
Del Monte Fresh Produce. We are an exempted holding company, incorporated under
the laws of the Cayman Islands on August 29, 1996. At January 1, 2016, the close
of our most recent fiscal year, members of the Abu-Ghazaleh family directly
owned approximately 35.9% of our outstanding Ordinary Shares.Our global business,
conducted through our subsidiaries, is primarily the worldwide sourcing, transportation
and marketing of fresh and fresh-cut produce together with prepared food products
in Europe, Africa and the Middle East. We source our fresh produce products
(bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums,
nectarines, cherries, citrus, avocados, blueberries and kiwi) primarily from
Central and South America, Africa, the Philippines, North America and Europe.
We source our prepared food products primarily from Africa, Europe and the Middle
East. Our products are sourced from company-owned operations, through joint
venture arrangements and through supply contracts with independent producers.
We distribute our products in North America, Europe, Asia, the Middle East,
Africa and South America.
We are 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 fruit and vegetables,
juices, beverages and snacks in Europe, Africa and the Middle East. We market
our products worldwide under the DEL MONTE® brand, a symbol of product innovation,
quality, freshness and reliability since 1892. Our global sourcing and logistics
network allows us to provide consistent delivery of high-quality fresh produce,
juices, beverages, processed fruit and vegetables and value-added services to
our customers.
We have leading market positions in the following product categories. We believe
we are:
the largest marketer of fresh pineapples worldwide;
the third-largest marketer of bananas worldwide;
a leading marketer of branded fresh-cut fruit in the United States, Japan,
the United Kingdom, United Arab Emirates and Saudi Arabia;
a leading grower, re-packer and marketer of tomatoes in the United States;
a leading year-round marketer of branded grapes in the United States;
a leading marketer of branded non-tropical fruit in selected markets; and
a leading marketer for branded canned fruit in the European Union (EU), other
European markets, and the Middle East.
We source and distribute our fresh produce products globally. Our products
are grown primarily in Central and South America, Africa and the Philippines.
We also source products from North America and Europe. Our products are sourced
from company-controlled farms and independent growers. At year end 2015, we
transported our fresh produce to markets using our fleet of 13 owned and six
chartered refrigerated vessels, and we operated four port facilities in the
United States. We also operated 39 distribution centers, generally with cold
storage and banana ripening facilities in our key markets worldwide, including
the United States, Japan, South Korea, the United Arab Emirates, Saudi Arabia,
Hong Kong, Germany and France. We also operate 16 fresh-cut facilities in the
United States, the United Kingdom, Japan, the United Arab Emirates and Saudi
Arabia, some of which are located within our distribution centers. Through our
vertically integrated network, we manage the transportation and distribution
of our products in a continuous temperature-controlled environment. This enables
us to preserve quality and freshness, and to optimize product shelf life, while
ensuring timely and year-round distribution. Furthermore, our position as a
volume producer and shipper of bananas allows us to lower our average per-box
logistics cost and to provide regular deliveries of our premium fresh fruit
to meet the increasing demand for year-round supply.
We market and distribute our products to retail stores, club stores, wholesalers,
distributors and foodservice operators in more than 100 countries around the
world. . Our distribution centers and fresh-cut facilities address the growing
demand from supermarket chains, club stores, foodservice providers, mass merchandisers
and independent grocers to provide value-added services, including the preparation
of fresh-cut produce, ripening, customized sorting and packing, just-in-time
and direct-store-delivery and in-store merchandising and promotional support.
Large national chains are increasingly choosing fewer suppliers who can serve
all of their needs on a national basis. We believe that there is a significant
opportunity for a company like ours with a full fresh and fresh-cut produce
line, a well-recognized brand, a consistent supply of quality produce and a
national distribution network to become the preferred supplier to these large
retail and convenience store chains, and foodservice customers. We believe that
we are uniquely positioned as a preferred supplier, and our goal is to expand
this status by increasing our leading position in fresh-cut produce, expanding
our banana and pineapple business and diversifying our other fresh produce selections.
We are a multinational company offering a variety of fresh produce in all major
markets along with fresh-cut produce in selected markets and a prepared food
product line that includes prepared fruit and vegetables, juices, beverages
and snacks in Europe, Africa, the Middle East and countries formerly part of
the Soviet Union.
Our strategy is a combination of maximizing revenues from our existing infrastructure,
entering new markets and strict cost control initiatives. We plan to continue
to capitalize on the growing global demand for fresh produce and expand our
reach into existing and new markets. We expect sales growth of fresh produce
in key markets by increasing our sales volume and per unit sales prices as permitted
by market conditions. Our strategy includes increasing volumes from existing
production and distribution facilities in order to improve operating efficiencies
and reduce per unit costs. We plan additional investments in production facilities
in order to expand our product offering in established markets and continue
with our recent expansion in growth markets, such as the Middle East, Africa
and countries formerly part of the Soviet Union. We also plan additional investments
in our North America and Asia distribution and fresh-cut fruit facilities to
support our planned growth in these markets.
Our products are grown and sourced primarily in Central and South America,
Africa and the Philippines.
We produce, source, distribute and market a broad array of fresh produce throughout
the world, primarily under the DEL MONTE® brand, as well as under other
proprietary brands, such as UTC® and Rosy®. We also produce, distribute
and market prepared fruits and vegetables, juices, beverages and snacks under
the DEL MONTE® brand, as well as other proprietary brands, such as Fruit
Express™, Just Juice®, Fruitini® and other regional trademarks
in Europe, Africa, the Middle East and countries formerly part of the Soviet
Union.
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