OMAHA, Neb.—ConAgra Foods, Inc., has agreed to acquire Toronto-based Del Monte Canada, Inc., a leading provider and marketer of packaged fruits, fruit snacks and vegetables in Canada, from an affiliate of Sun Capital Partners. The transaction is subject to closing conditions and regulatory reviews; financial terms were not disclosed.
The agreement includes the acquisition of all Del Monte branded packaged fruit, fruit snacks and vegetable products in Canada, a manufacturing facility in Dresden, Ontario, and headquarters offices in Toronto, as well as Aylmer tomato products. Del Monte fresh produce, juices, and Aylmer soups will remain under separate ownership.
“The acquisition of Del Monte Canada supports our strategic growth plan," said Gary Rodkin, CEO of ConAgra Foods. “It will grow our position in North American tomato products, expand our vegetable product line and add packaged fruit and fruit snacks to our portfolio."
The acquisition is based on ConAgra’s strategy to grow core businesses, expand into strategic adjacencies and build its international presence. The company recently acquired National Pretzel Company, maker of a variety of private-label pretzel products and also announced last November that it increased its ownership share of Agro Tech Foods Ltd. in India.
