DEL MONTE SELLS US VEGETABLE BUSINESS
DUAL listed fruit canner Del Monte Pacific Ltd. (DMPL) announced on Friday that its US subsidiary Del Monte Foods, Inc. (DMFI) had sold its Sager Creek vegetable business in the US for $55 million, in line with its goal to focus on its core business.
DMFI sold its Sager Creek business to McCall Farms, Inc., DMPL Stock Exchange (PSE).
- food service and retail markets and manufactures several brands, in
McCall Farms is a US- based and Glory Foods.
“This divesture allows us to focus our energy and resources on strengthening our core business, - - vid Meyers said in the disclosure.
As a result of the sale, one manu in Arkansas in the US will imme
“DMFI will continue to be the foodservice customers of Sager Creek through early 2018, and will work closely with McCall Farms
- mance of its Asian businesses. DMPL achieved a net income of ending July, reversing the $7 mil - rable quarter last year.
Sales in the quarter reached - cent from last year, driven by the Middle East businesses, which offset lower sales in the United States.
by local regulators to sell dollardenominated securities.