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Del Monte Foods Company
Del Monte Foods selling fruit, vegetable business to focus on pets
Del Monte Foods selling fruit, vegetable business to focus on pets

Del Monte Foods is selling its fruit and vegetable business to focus instead on tasty vittles for pets. The San Francisco company said Friday that it is selling its consumer products business, which includes canned Del Monte pineapple and Contadina tomatoes, to Del Monte Pacific in Asia for $1.68 billion. It will then begin catering solely to the tastes of furrier consumers through its pets business, which includes brands such as Pup-Peroni, Meow Mix and Milk-Bones. Del Monte Pacific, which is publicly traded in Singapore and the Philippines, said the deal would add about $1.8 billion to its annual sales and $178 million to operating earnings. The company already owns one of the...

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