Del Monte Foods Agrees to $ 5,3 Billion Sale

The multinational agreed to its sale, including debt, to a private equity group led by Kohlberg Kravis Roberts fund (KKR).

Friday, November 26, 2010

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.