LONDON (ShareCast) - (Sharecast News) - Bonduelle announced on Wednesday that it has finalised the acquisition of the Del Monte processed fruit and vegetable business in Canada with North American food processing giant Conagra Brands.
The company said the acquisition, effective 3 July, included the right to use the Del Monte brand on different segments of processed fruits and vegetables and stocks of products for a value of around CAD 43m.

It said the acquired business excluded all industrial and personnel assets, as co-packers and Bonduelle's existing production capabilities would be used.

"The Del Monte processed fruit and vegetable business in Canada, with revenues of approximately CAD 60m, will complement [the] Bonduelle Americas Long Life business unit's canned and frozen vegetable business, which is largely conducted under retailer's store brands," the Bonduelle board said in its statement.

"This highlights the group's desired development in brand activities and expansion beyond vegetables to vegetable products."

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