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Del Monte Foods to Sell Consumer Products Business for USD 1.58 Billion


Philippines based fruit juice company Del Monte Pacific Ltd. (DMPL) is all set to purchase the consumer products business of US based Del Monte Foods Co. for 1.68 billion USD. In a statement issued by Del Monte Foods, this deal will give DMPL the rights to Del Monte, College Inn and S&W food brands in the United States. As part of the business, the deal will bring in canned fruits, canned vegetables and broth brands under Del Monte Pacific. This will give the Philippines based company a chance to make headway into the lucrative and ever-expanding US market.

Del Monte Foods is an US based food production company and it manufactures, markets and distributes both food items and pet products. Del Monte Foods Co. includes brands such as Del Monte, Kibbles ‘n Bits, S&W, Meow Mix, Contadina, College Inn, 9Lives, etc. Del Monte Pacific is involved in the production of canned pineapple juice and tomato products. The firms’ major market is the Philippines where it also has the world’s largest pineapple plantation.

According to Rolando Gapud, Chairman of Del Monte Pacific, this move will open avenues for the firm in the United States, as US was one of the few key markets that DMPL did not have a presence in. On the other hand Del Monte Foods have stated that it was selling its consumer products business in US so as to better focus on its pet food industry. After the sale, Del Monte Foods is expected to change its brand name. The acquisition of Del Monte Foods will be financed through a $930 million long-term loan.

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