Del Monte Pacific, owner of the world's largest pineapple growing and processing facility in the Philippines, will take full control of one of China's large juice producers with the acquisition of the remaining 11 per cent in its parent firm, Abpak.

The company said in a statement to the Singapore Stock Exchange last week that it would pay Abpak founder Paul Leo Rasch US$1.3 million for the small share that it does not already won.

Abpak, in turn, owns 100 per cent of China's Great Lakes Fresh Foods and Juice Co, one of the top pure juice suppliers to cities like Beijing, Shanghai and Tianjin.

The deal, completed on Monday, will allow Del Monte to set about boosting exports to reduce losses at the juicemaker. Great Lakes made US$4 million in the first quarter of 2006 and sales are growing but has not yet made a profit since Del Monte acquired an initial 89 per cent stake in Abpak in 2004.

A Del Monte spokeswoman told AP-Foodtechnology.com that it has plans for Great Lakes to enter the US, in addition to its current export markets, Australia and New Zealand.

"Exports are very small so far but we're hoping to increase exports of apple puree, apple slices and dices," she said.

China is the world's largest producer of apples and with its low-cost production and Del Monte's expertise in this sector, the fruit group believes it can increase profits by looking abroad.

"In the domestic market competition is very intense, and supermarkets demand high listing fees, which means that there are constant demands for marketing," said the Del Monte spokeswoman.

"But with exports there is no marketing involved."Del Monte's managing director Joselito Campos Jr. said in a statement that he was confident that the acquisition would contribute to the group's profitability in 'the medium-term'.

After buying the initial stake for US$6.3 million in 2004, Del Monte committed to make an offer for the remaining 11 per cent at the same price per share paid to ex-Abpak shareholders plus an accrued annual interest of 3.3 per cent.

This additional acquisition will be financed entirely by Del Monte's internal cash reserves.

Although Rasch will no longer be a shareholder, he will remain president of Great Lakes.

Del Monte is jointly owned by San Miguel and the Campos Group.