Fresh Del Monte acquires Standard Fruit and Vegetable

Jan 28, 2003 12:00 PM, Gary Macklin

Fresh Del Monte Produce Inc, Coral Gables FL, has acquired Standard Fruit and Vegetable Company of Dallas TX. The deal will expand the North American reach of Fresh Del Monte, diversify its product line, and enhance vertical integration. Fresh Del Monte is a major producer and marketer of fresh and fresh-cut fruit and vegetables. Standard Fruit and Vegetable is a large wholesale produce distributor with strong relationships with more than 500 customers in 30 states, especially in the Southwest. Standard has posted sales of $335 million in recent years. Standard distribution centers in Dallas, Kansas City, Phoenix, Atlanta, and Monte Vista CO will add to the Fresh Del Monte distribution network. Fresh Del Monte says that it expects substantial cost savings as it integrates the Standard distribution purchasing, sales, marketing, distribution, and transportation operations into its infrastructure.

Standard Fruit and Vegetable is a major distributor of tomatoes, potatoes, and onions, three product groups not currently available from the Fresh Del Monte inventory. Standard also handles a large selection of specialty items that will add to the variety available from Fresh Del Monte. Standard Fruit and Vegetable was founded in Dallas in 1933 and has operated primarily as a fill-in distributor for independent grocers and supermarket chains.