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Del Monte says yes following sales negotiations

Sales negotiations lead to Del Monte Foods acquisition for KKR.

26 November 2010

Del Monte Foods has been sold to a private equity group led by Kohlberg Kravis Roberts (KKR) and Co for $5.3 billion (£3.4 million) following sales negotiations.

In the UK the company is known for its canned-fruit products, which were promoted by an iconic advertising campaign that saw a beige-suited 'Man from Del Monte' approving the quality of the fruit the firm used.

Simon Brown, head of the KKR's North American consumer practice, stated Del Monte’s brand portfolio is "first rate".

"We look forward to working with the company's talented employees and investing in the business as we continue to execute upon Del Monte's proven strategy for growth," he said.

He added Del Monte is a great company, with an excellent strategy, a talented team and a strong future.

It has recently been reported the Daily Mail & General Trust (DMGT) may be set to enter more business negotiation deals after its chief executive Martin Morgan hinted that it might return to the acquisition market. 

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