Del Monte Enters Fresh-Cut Fruit Joint Venture with Riverking in China
Del Monte Corp., listed on the New York Stock Exchange under ticker DMC, has formed a joint venture in China to sell fresh-cut fruit products. The partnership is with Shanghai-based Riverking Agricultural Technology Development Co., described as a leading integrated private fruit enterprise. Del Monte will leverage its Hong Kong subsidiary for this initiative, aiming to capitalize on the growing demand for convenience foods and fresh-cut fruits in Asia. China represents an important market for Del Monte, which reported $4.32 billion in sales globally last year with 9% of that revenue coming from Asian markets. The company has previously expanded its presence through acquisitions such as a majority stake in Uganda's Avolio avocado oil supplier and recent US-based asset purchases. Riverking brings extensive local supply chain expertise, including cultivation, sourcing, harvesting, and distribution across China. This collaboration is expected to enhance Del Monte’s market position by combining the company's fresh-cut fruit experience with Riverking's established logistics network.
Tickers: $FDP
Topics: China market expansion Del Monte joint venture fresh fruit