Harris Williams & Co. Advises Del Monte Canada, Inc. in its Pending Sale to Strategic Buyer ConAgra Foods, Inc.
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces that Del Monte Canada, Inc. (Del Monte Canada), has entered into a definitive agreement to be acquired by ConAgra Foods, Inc. (NYSE:CAG; ConAgra Foods). Del Monte Canada is an affiliated portfolio company of Sun Capital Partners, Inc. (Sun Capital) and EG Capital Group, LLC (EG Capital). The transaction is being led by the firm’s Consumer Group. Harris Williams & Co. is acting as the exclusive advisor to Del Monte Canada.
“Del Monte Canada’s products have been a staple for Canadian consumers for generations and are ‘must stock’ items for virtually all Canadian food retailers. Management has done a terrific job solidifying Del Monte Canada’s leading market positions in packaged fruit, vegetables and tomatoes and has driven tremendously profitable growth through the introduction of many exciting and innovative new products,” said Glenn Gurtcheff, a managing director at Harris Williams & Co. and the Head of the firm’s Consumer Group. “We expect Del Monte Canada to continue to outperform in its categories in partnership with ConAgra Foods.”
“Del Monte Canada’s products are renowned amongst consumers for their quality, taste and freshness, and are ideally positioned to continue benefitting from consumers’ increasing desire for convenient, healthy foods,” added Tim Alexander, a managing director in the Consumer Group at Harris Williams & Co.
Del Monte Canada is the leading innovator, marketer and processor of a broad array of great tasting and wholesome packaged fruit, vegetables, and tomatoes for the Canadian food retail market. The company’s brands, Del Monte and Aylmer, hold the #1 or #2 market positions and are staples in all of Canada’s largest grocery, mass merchandising and club store retailers.
Sun Capital is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in more than 285 companies worldwide with combined sales in excess of $45 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen.
EG Capital is a New York based private equity firm focused on buyouts of, and growth capital for, established businesses in Canada and the United States. EG Capital is actively pursuing opportunities in the consumer products and retail sectors.
ConAgra Foods is one of North America’s leading food companies, with brands in 97 percent of America’s households. ConAgra Foods also has a strong business-to-business presence, supplying frozen potato and sweet potato products as well as other vegetable, spice and grain products to a variety of well-known restaurants, foodservice operators and commercial customers.