Conagra Brands, Inc. on July 4 announced that it has completed the divestiture of its Canadian Del Monte processed fruit and vegetable business to the Villeneuve d’Ascq, France-headquartered Bonduelle Group. The transaction is valued at approximately CA $43 million, which is about US $32 million at the current exchange rate.
The acquisition by Bonduelle includes the right to use the Del Monte brand in different segments of processed fruits and vegetables and stocks of products marketed by Conagra. The deal excludes all industrial and personnel assets because co-packers and Bonduelle’s existing production capabilities will be used.
With revenues of approximately CA $60 million, Conagra’s Del Monte business in Canada will complement the Bonduelle Americas Long Life business unit’s canned and frozen vegetable businesses, which are largely engaged in packing private label products for retailers.
Headquartered in Chicago, Illinois, Conagra is one of North America’s leading branded food companies. Among its frozen food brands Healthy Choice, Marie Callender’s, Banquet, Alexia, Blake’s and Frontera.
