Agro Tech Foods (ATFL), a confectionery and snacks firm backed by private equity firm Samara Capital, has announced it has entered into an agreement to acquire Del Monte Foods in a 1,300 crore INR ($156 million) share swap deal with Bharti Enterprises and Del Monte Pacific. Following the acquisition, Del Monte Foods will become a wholly owned subsidiary of Agro Tech. Bharti Enterprises will hold a 21% stake, with Agro …
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Del Monte Pacific
Del Monte Foods, a subsidiary of consumer goods major Del Monte Pacific, has announced plans to close a green bean manufacturing plant in Markesan, WI and a tinned sweetcorn and peas plant in Toppenish, WA, according to reports in Just Food and Food Business News. The closures are said to be expected by the end of the company’s fiscal year in April, with around 220 jobs reportedly affected. Commenting on …
Del Monte Pacific, a leading fruit and vegetable processor, has announced plans to divest production facilities of its US subsidiary Del Monte Foods, including the closure of two production facilities and the sale of another. The facilities to be closed are located at Sleepy Eye, MN and Mendota, IL, where production is set to cease at the end of the current pack season. A third plant in Cambria, WI, will …
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