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Del Monte Foods to sell private label soup and infant feeding businesses
6 March 2006
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In an effort to focus on higher-margin, branded products, Del Monte Foods has entered into an agreement to sell its private label soup and infant feeding businesses to TreeHouse Foods for approximately $275 million, including a working capital adjustment.
”The divestiture of our private label soup and infant feeding businesses enables us to focus innovation initiatives and financial resources against faster-growing, margin-enhancing branded businesses that share a common go-to-market platform,” explains Richard G. Wolford, Del Monte's chairman and CEO. "The transactions streamline our company around our branded US retail go-to-market platform, eliminate a parallel private label platform and reduce total SKUs by close to 40%.”
Del Monte Foods to sell private label soup and infant feeding businesses
”The divestiture of our private label soup and infant feeding businesses enables us to focus innovation initiatives and financial resources against faster-growing, margin-enhancing branded businesses that share a common go-to-market platform,” explains Richard G. Wolford, Del Monte's chairman and CEO. "The transactions streamline our company around our branded US retail go-to-market platform, eliminate a parallel private label platform and reduce total SKUs by close to 40%.”
Del Monte Foods to sell private label soup and infant feeding businesses
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