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$5.3 Billion Private Equity Takeover Deal

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$5.3 Billion Private Equity Takeover Deal

November 29
14:23 2010

The biggest private equity food deal this year has been agreed with a consortium led by Kohlberg Kravis Roberts, Vestar Capital Partners and Centerview Partners acquiring Del Monte Foods Company, one of North America’s largest producers of branded food products and pet products. The transaction, which has been unanimously approved by Del Monte’s board of directors, is valued at $5.3b, including the assumption of approximately $1.3b in net debt.

With a powerful portfolio of brands, Del Monte products are found in eight out of ten US households, and the group generated sale of $3.7b in its 2010 financial year. If there is not a better offer, the deal is expected to close by the end of March 2011.

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