The purchasing group formed by Kohlberg Kravis Roberts fund (KKR), Centerview Partners and Vestar Capital Partners will pay $ 19 per share of Del Monte, plus the company's debt of about $ 1,300 million.

The deal is expected to close in late March 2011 and it allows Del Monte to search for a better purchase offer up until January 8th.

Del Monte´s shares gained 62 percent value this year, with sharp increases during the last week due to reports of the purchase.

Source: Del Monte