Sector News

Bonduelle to acquire Del Monte's Canada business from Conagra

February 20, 2018
Food & Drink

French food company Bonduelle Group has announced that it signed an agreement with Conagra Brands to acquire its Del Monte processed fruit and vegetable business in Canada.

The $43 million acquisition includes the right to use the Del Monte brand on processed fruits and vegetables, as well as stocks of products marketed by Conagra.

The deal will not include industrial assets and personnel, as vegetable specialist Bonduelle will use its existing production capabilities.

The transaction is expected to be finalised before the end of May 2018.

Expansion Plans

Conagra’s Del Monte business in Canada achieved revenues of approximately C$60 million last year.

Bonduelle says that the acquisition of this unit will compliment its existing canned and frozen vegetable business in North America, which largely produces retailer store brands.

The group also says that the deal highlights its commitment to develop brand activities, and expand beyond vegetables.

Bonduelle posted turnover of more than €2 billion in its most recent financial year, representing 2.7% organic growth year on year.

The company’s vegetable products are sold in 100 countries worldwide under various brand names. Last year, the group acquired US-based Ready Pac Foods for $409 million.

Source: European Supermarket Magazine

comments closed

Related News

September 25, 2022

Coca-Cola names new president of global ventures

Food & Drink

The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.

September 25, 2022

Perfect Day allies with Onego Bio to speed-up launch of animal-free eggs

Food & Drink

US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.

September 25, 2022

EU fails on food waste: Report reveals bloc discards more than it imports

Food & Drink

Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.