Del Monte Pacific set to acquire Del Monte Foods - The Packer

Del Monte Pacific set to acquire Del Monte Foods

01/27/2014 01:43:00 PM
Tom Karst

Del Monte Pacific Limited is looking for the OK of shareholders after winning a nod from regulators to buy San Francisco-based processor Del Monte Foods.

The Philippines-based GMA news service reported the fruit grower and canner expects to ratify the deal with its shareholders sometime in February.

In October last year, Del Monte Pacific announced it entered into a definitive agreement to buy Del Monte Foods through a new subsidiary for a price of $1.675 billion. If approved by shareholders, the deal would give the Philippines-based Del Monte Pacific Limited the brands and certain assets of the Del Monte Foods’s consumer food business in the U.S.



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