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Del Monte Pacific settles litigation with Fresh Del Monte Produce, announces JVs
DEL Monte Pacific, known for its canned pineapples and ketchup, said on Wednesday morning that it has worked out a series of joint ventures with US-listed Fresh Del Monte Produce.
The joint ventures, on refrigerated offerings and a new retail food and beverage concept, will initially focus on the US market.
Facilitating the joint ventures were the full and final settlement of all active litigation between the two firms. The long-standing litigation was about licensing rights and product distribution in various territories around the world.
Del Monte Pacific last traded at S$0.335.