Sunday, August 9, 2020

Del Monte divesting & selling certain US production sites

Del Monte Pacific Limited (DMPL) is divesting a number of the production facilities operated by its US subsidiary, Del Monte Foods, to focus on an “asset-light” strategy.

Production will cease at the Sleepy Eye, Minnesota and Mendota, Illinois facilities at the end of the current pack season, DMPL said.

The company added that its Cambria, Wisconsin facility will be sold as an operating facility after the completion of pack.

It will also be selling manufacturing assets at its Crystal City, Texas facility and added that it intends to transfer product from this site to outside locations later this year.

Production at these locations will be primarily transitioned to other Del Monte production facilities in the US.

DMPL said that the closure allow it to “fully utilise the capacity of its existing production facilities and increase its focus on branded growth and innovation”.

“This decision has been difficult and has come after careful consideration,” said Joselito D Campos, Jr, MD and CEO of DMPL.

“This restructuring is a necessary step for us to remain competitive in a rapidly changing marketplace. Our asset-light strategy will lead to more efficient and lower cost operations.”

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