Fresh Del Monte exploring strategic alternatives for Mann Packing operation

CEO Mohammad Abu-Ghazaleh added, “During the fall of this year, we conducted a strategic review and assessed our operational priorities of our North America operations, including Mann Packing. Preliminary findings of this review were finalized in the fourth quarter. As a result of this strategic review and other factors, we recorded a non-cash impairment of $131.2 million in the quarter, primarily related to our Mann Packing operation. We are exploring strategic alternatives for this business while continuing to focus on improving profitability in all areas of our business, including innovations and strategic partnerships, in addition to controlling our costs this next fiscal year.”