Dive Summary:
- Del Monte Corp. is said to be in the early stages of selling its canned food business, retaining only its pet food business.
- The canned food business brings in $1.8 billion in sales annually and incudes fruit cups, canned fruits and vegetables, and broth brands like Contadina and College Inn.
- Del Monte was purchased for $4 billion by a group of private-equity investors led by KKR, and a deal would be expected to fall around $2 billion.
From the article:
... The San Francisco-based canned-food and pet-food company is gauging interest from potential buyers of the division, the people said, adding that the process is in the early stages. The canned-food business generates about $1.8 billion in sales annually, or about half of the company's revenue. ...
