Fresh Del Monte Produce (FDP) has announced it is buying Del Monte Foods Europe.
FDP has signed an agreement to acquire certain assets and shareholdings that comprise Del Monte Foods Europe, which includes its operations in Europe, Africa and the Middle East.
The acquisition will total about ´275m in cash, primarily financed through the company’s credit facility. This should take place by the end of the fourth quarter trading this year.
The acquisition should add about E300m of sales and additional brands to FDP’s existing portfolio.