Corporate Acquisitions

Del Monte Foods to Be Acquired for $5.3 Billion by Group That Includes KKR

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In Brief...

Del Monte Foods Company (DLM) has agreed to be acquired by a consortium formed by pooling funds from Kohlberg Kravis Roberts & Co. (KKR), Vestar Capital Partners and Centerview Partners. According to the agreement Del Monte can solicit alternative proposals from third parties through January 8, 2011.. The pet-food business of Del Monte has thrived over the past few years. On the conference call, Del Monte guided to a fiscal 2011 revenue growth of 1% - 3% over fiscal 2010 sales. Headquartered in San Francisco, California, Del Monte Foods Company, together with its subsidiaries, produces, distributes and markets branded pet products and food products for the United States' retail market..

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