1406 ET - Fresh Del Monte has been mitigating the cost of tariffs by negotiating with buyers, executives say during a call with analysts. The negotiations have been friendly and cooperative, according to the company. The fruit distributor, which sells to grocery stores and restaurants, is working to offset a 10% baseline tariff on its major growing countries. "The situation is evolving quickly and we are monitoring it closely," Chief Executive Mohammad Abu-Ghazaleh says. The CEO adds that Fresh Del Monte made a key strategic move in March by announcing the acquisition of Avolio, Uganda's leading supplier of edible avocado oil. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 14:06 ET (18:06 GMT)
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