Bonduelle has announced that it has finalised the acquisition of the Del Monte processed-fruit and -vegetable business in Canada, from Conagra Brands.
The $43 million Canadian (€27.6 million) acquisition, announced in early 2018, gives Bonduelle the rights to use the Del Monte brand on a range of processed fruit and vegetable products, but excludes industrial assets and personnel, as Bonduelle will be using its existing production sites.
In a statement, the company indicated that this acquisition 'will complement Bonduelle Americas Long Life business unit’s canned- and frozen-vegetable business, which is largely conducted under retailer store brands' and highlights the 'desired development in brand activities and expansion beyond vegetables to vegetable products'.
Bonduelle, which sells its products in more than 100 countries under different brands, posted a sharp rise (38.5%) in turnover in the first half of its financial year, to €1.4 billion. This, in large part, was due to another recent acquisition, Ready Pac Foods, which was finalised in early 2018.
Conagra Brands, which has been facing challenges in recent years, as shoppers move away from processed foods to healthier options, plans to buy fellow giant Pinnacle Foods in a bid to create a new frozen-food giant.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Matthieu Chassain. Click subscribe to sign up to ESM: European Supermarket Magazine.