Del Monte Pacific eyes recovery in US business
Del Monte Pacific Ltd. today said it expects its US business to recover in two to three years provided it executes its short- and medium-term plans. The US accounts for 80 percent of the company’s revenues.
In a presentation to investors, Del Monte Pacific said it is the number one packaged core fruit and packaged core vegetable producer in the US with a market share of 35 percent and 27 percent, respectively. In the packaged cut tomato business, it ranks second with a 10 percent market share.
Its US customers include retailers such as Walmart, Costco, and Target.
Del Monte Pacific plans to address the evolving consumer needs in the US, specifically the shifts in eating behaviour and changing demography while continually differentiating its brand/products to drive consumer preference.
In reinvigorating its US business, the company plans to extend the reach of its distribution and optimizing its supply chain and procurement synergies.