Bonduelle to acquire Del Monte business in Canada from Conagra
Chicago and Quebec – Conagra Brands will sell its Del Monte processed fruit and vegetable business in Canada to Bonduelle Group.
The sale is expected to be completed before the end of May 2018, Conagra Brands said in a news release. The transaction is valued at approximately $43 million Cdn, which is approximately $34 million US at the current exchange rate.
“We continue to reshape our portfolio and focus resources in areas that best support our business strategy and drive value creation for shareholders,” said Sean Connolly, president and chief executive officer of Conagra Brands. “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.”
The acquisition includes the right to use the Del Monte brand on different segments of processed fruits and vegetables and stocks of products marketed by Conagra, according to a news release from Bonduelle, a Quebec business group with headquarters in Villeneuve-d'Ascq, France.
Conagra’s Del Monte business in Canada will complement Bonduelle Americas Long Life business unit’s canned and frozen vegetable business, which is largely conducted under retailer’s store brands, Bonduelle said.
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