Dive Brief:
- Del Monte Foods, Inc. of San Francisco said it acquired specialty vegetable producer Sager Creek Vegetable Company assets for $75 million.
- Yearly, Sager Creek creates around $250 million in revenue.
- "On behalf of our Associates, we are honored and proud to become a part of the Del Monte family," said Chris Kiser, CEO of Sager Creek, in a news release.
Dive Insight:
The CEO of Del Monte Foods, Nils Lommerin, said in a news release: "This acquisition provides Del Monte the opportunity to expand on Sager Creek's Foodservice business platform and new retail product offerings while driving significant operating synergies in our network of vegetable production facilities."
Elsewhere in this space, parent company Del Monte Pacific posted a nine-month net loss correlating with acquisition costs of Del Monte Foods, though operating profit and sales were higher compared to last year.