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Del Monte Corp. Announces Plan To Sell Canned-Food Business

June 13, 2013: 12:00 AM EST
Del Monte Corp. said it is planning to sell its canned-food business, which has made it popular among consumers, to focus on manufacturing products for dogs and cats. Acquired for around $4 billion by a group of private-equity investors led by KKR &Co., Del Monte operates a canned-food business that generates about $1.8 billion in sales annually, or about half of the company's total sales of $3.7 billion in 2012. Centerview Partners and Morgan Stanley were reportedly hired to market the canned-food unit, which is likely to be priced around $2 billion.
DANA MATTIOLI and MIKE SPECTOR, "Del Monte Canned-Food Business Is Up for Sale", Wall Street Journal, June 13, 2013, © Dow Jones & Company, Inc.
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