Fruits of Thought
Advice For New Parents
At the recent PMA convention in Reno, a lot of the talk was about the mergers and acquisitions which seem to be sweeping the produce trade. From Polly Peck’s Del Monte stunner, to Dole’s acquisitions in the Washington Apple business, to continued acquisitions by the Albert Fisher Group and Dalgety Produce, it seems that the new corporate “parents” in the produce industry are growing by leaps and bounds.
But buying companies is easier than running them, and the multinational produce conglomerate is still something of an unproven concept. Only the banana giants have managed to develop integrated multi-national sourcing and marketing organizations.
Others are trying, however, and as they are spending a lot of money and bringing new capital and ideas to the industry, we should wish their efforts good luck. Meanwhile, here is my list of seven key concepts that hopefully will be kept in mind by the “parents” of newly acquired companies.