Del Monte says yes to private-equity bid
After weeks of speculation, the senior management at Del Monte Foods said yes last week to a takeover bid for the company.
Del Monte Foods has confirmed that it has been sold to consortium of three private-equity groups in a deal worth US$5.3bn.
US food group Del Monte Foods is optimistic that its consumer business will bounce back in the second half.
US food group Del Monte Foods today (13 July) cut its forecast for annual sales as it revealed plans to increase its spending on promotions.
Del Monte Foods chief Rick Wolford today (10 June) defended the company's decision to boost its recent marketing expenditure and said the US food group was seeing the benefit of the higher spending.