Del Monte Foods sells consumer products business

WITH plans to focus on the pet food and snack market, Del Monte Foods has agreed to sell its consumer products business to Del Monte Pacific Limited for $1.675 billion. On closing, Del Monte Foods will change its name to reflect its focus on the pet products market.

Del Monte Pacific Limited owns the Del Monte? brand in the Philippines and is the exclusive licensee on the Indian Sub-Continent for processed products, and owner of the S&W? brand outside of the Americas for both processed products and fresh produce. The company is publicly traded in Singapore and the Philippines and has been a long-term supplier of processed pineapple to Del Monte Foods.