Del Monte is one of the world's largest processors of fruit, particularly pineapples. In 2014, Del Monte entered into a joint venture agreement with Nice Fruit (and financial investor Ferville) to build a facility in the Philippines that produces frozen pineapple using Nice Fruit's processing technology licensed from The Polytechnic University of Catalonia. Using a physical process that allows fruit to be frozen without rupturing cell walls, it claims to allow fruits picked at optimal ripeness to be frozen for up to three years while maintaining all original properties (e.g., organoleptic, physical, nutrient). Nice Fruit, Del Monte, and Ferville took 51%, 35%, and 14% equity ownership in the joint venture, respectively.
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