Please ensure Javascript is enabled for purposes of website accessibility

Fresh Del Monte Produce Continues Its International Push With Japanese Plant Opening

By Rhian Hunt – May 22, 2020 at 3:22PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The company is expanding its production facilities worldwide.

Fresh Del Monte Produce (FDP 0.20%) cut the ribbon on its new fresh-cut vegetable and fruit plant in Japan today, according to a press release. The facility has been under construction since 2019 and cost around $19 million. It will process approximately 10,000 tons (20 million pounds) of produce every year.

The facility is located in Yokohama, a port city on Tokyo bay, close to the capital. Tokyo is home to almost 40 million people, placing the plant next door to a huge market for ready-to-eat produce, a high-demand food sector in Japan, according to the company. The processing plant features powerful air conditioning and stringent sanitation measures to ensure the food is as clean and fresh as possible.

Fresh cut produce.

Image source: Getty Images.

The general manager of Del Monte's Japanese branch, Kunihiko Katayama, said it is "exciting to finally see our work come to fruition as we continue to supply our customers with fresh and ready-to-eat produce."

The move is part of a broader strategy by Del Monte to expand its production and presence around the world. Last December, it opened a large avocado processing plant in Mexico in response to the 168% growth in demand for the fruit in the U.S. It also built a pineapple plant in Kenya, more facilities in Costa Rica and elsewhere in Central and South America, and has worked to enhance the productivity of its American locations. 

Rhian Hunt has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Fresh Del Monte Produce Inc. Stock Quote
Fresh Del Monte Produce Inc.
FDP
$24.45 (0.20%) $0.05

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
329%
 
S&P 500 Returns
106%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/26/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.