Bonduelle, the leading global vegetable firm, has announced an agreement to acquire the Del Monte processed fruit and vegetable business in Canada for a total value of C$43 million ($34 million).
The deal with Conagra includes the right to use the Del Monte brand in different segments of processed fruits and vegetables but excludes all industrial and personnel assets.
In a statement, Bonduelle said the acquisition “will complement Bonduelle Americas Long Life business unit’s canned and frozen vegetable business, which is largely conducted under retailer’s store brands. This highlights the group’s desired development in brand activities and expansion beyond vegetables to vegetable products”.
Conagra president and CEO Sean Connolly added: “We continue to reshape our portfolio and focus resources in areas that best support our business strategy. Del Monte is a strong brand in Canada with quality products, and we believe the Del Monte processed fruit and vegetable business will continue to thrive under Bonduelle’s ownership”.
Source: Bonduelle/ Financial Post
Discover our latest reports