Bharti Signs Del Monte As Its Strategic Partner For FieldFresh Foods

bhartiBharti Enterprises has declared addition of a second strategic partner in its retail expansion on Friday by adding up Filipino firm Del Monte Pacific Ltd in its business enterprise, FieldFresh Foods Pvt Ltd to sell agricultural products.

Bharti will get hold of Del Monte's Indian manufacturing facilities in Bharti's strategic move from retailing fresh farm produce to making processed goods.

The stress seems to have shifted following a debate over coordinated retail threatening well-established traders that has hit competitor Reliance Fresh’s plans in Uttar Pradesh.

Del Monte will apprehend 40 per cent in the venture in which Bharti will possess 50 per cent, and investment firm EL Rothschild the resting 10 per cent.

In a statement, Bharti Enterprises said, “The renewed focus of FieldFresh will reflect the changing retail environment and move from just fresh produce to processing. Given the growing opportunities in the Indian economy, FieldFresh plans to enhance its focus through value-added products in the domestic market.”

“It will also evolve a comprehensive strategy for serving the needs of the business-to-business segment. The company will continue to cater to export markets,” the report added.

Del Monte follows Bharti’s separate project with worldwide giant Wal-Mart for big cash wholesale stores.

Rakesh Mittal, Vice-Chairman said, “Having created the basic building blocks of the business in the fresh produce category, we are looking at upscaling our operations through processing and value added products. Del Monte will bring to FieldFresh its immense strength and experience in the area of processing and branded food products. Going forward, our aim is to emerge as a significant player in this segment.”

Internationally, Del Monte Pacific enjoys a key market share for processed pineapple products, and is a top market player in mixed fruits, tomato sauce, spaghetti sauce, juice and ketchup in the Philippines.