Philippine firm buys Del Monte’s US food business for $1.675 Billion

14 Oct


by The Economist

A Philippine company said Friday it is acquiring the consumer food business of US-based Del Monte Foods for $1.675 billion in one of the biggest overseas acquisitions by a local firm.

Del Monte Pacific Ltd. (DMPL) said it will purchase the brands and certain assets of the unrelated US firm’s American consumer food business, as well as equity interests in certain South American subsidiaries.

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