Bonduelle announces it has finalized with Conagra Brands Inc. (NYSE: CAG) the acquisition of Del Monte processed fruit and vegetable business in Canada.
The acquisition, effective on July 3rd, 2018, includes the right to use the Del Monte brand on different segments of processed fruits and vegetables and stocks of products for a value of approximately $43 million Canadian. The acquired business excludes all industrial and personnel assets because co-packers and Bonduelle’s existing production capabilities will be used.
The Del Monte processed fruit and vegetable business in Canada, with revenues of approximately $60 million Canadian, 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.