Del Monte Pacific is to buy a 40 per cent stake in the Bharti Enterprises-owned FieldFresh.

Bharti Enterprises and EL Rothschild formed the 50:50 fruit and vegetable export company in September 2004, but the move will make EL Rothchild a minority partner, with a 10 per cent share.

The move will see FieldFresh focus on processed foods for the domestic market, but it will continue to export to overseas markets, including the UK, the Middle East and Europe.

FieldFresh will acquire the India-based manufacturing facilities that del Monte Pacific uses for the production oof mango pulp.

Bharti Enterprises vice-chairman Rakesh Bharti Mittal said: “We are looking forward to having Del Monte Pacific as a partner in our agri venture. Having created the basic building blocks of the business in the fresh produce category, we are looking at scaling up our operations through processing and value-added products.”

Del Monte will bring to FieldFresh experience in the area of processing and branded food products, he added.

Del Monte Pacific managing director Joseline D Campos Jr said: “India is the second-largest producer of fruit and vegetables in the world, but has insignificant percentage of processed foods. Currently, about 20-25 per cent of fruit and vegetables are wasted due to spoilage. The potential in both fresh and processed fruit is tremendous.”

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