ConAgra acquires Del Monte Canada
ConAgra Foods Inc. will purchase Del Monte Canada Inc. from an affiliate of private equity firm Sun Capital Partners Inc. for an undisclosed sum.
According to an article in the Wall Street Journal, the deal includes all Del Monte branded packaged fruit, fruit snacks and vegetable products in Canada and Aylmer tomato products.
ConAgra CEO Gary Rodkin said the deal would also help the company grow its position in North American tomato products, expand its vegetable product line and add packaged fruit and fruit snacks to its portfolio, according to the Wall Street Journal.
In fiscal 2011 Del Monte Canada had about $150 million in revenue.
ConAgra is also looking to make grow in the private-label arena.
It failed to acquire Ralcorp Holdings Inc., a large private-label company but recently bought a private-label pretzel maker for $300 million.
