Bonduelle to acquire Del Monte processed fruit and vegetable business in Canada
The sale is expected to close before the end of May
Bonduelle announced its agreement to acquire Conagra Del Monte's processed fruit and vegetable business in Canada for $43 million on Tuesday.
"This is great news for employment in our communities," said Christian Malenfant, vice president of marketing at Bonduelle. "This transaction will bring incremental volume and will have a positive impact on jobs in our facilities."
Malenfant said all three of Bonduelle's canning facilities in Canada will be "positively impacted" by the acquisition.
The company said Del Monte's business in Canada, with revenues of approximately $60 million, will complement Bonduelle's canned and frozen vegetables which are largely sold under retailer's store brands.
"It's a strategic addition to our portfolio in line with our mission to make vegetables and plant-based products more accessible to consumers," said Malenfant.
Bonduelle said the sale is subject to customary closing conditions and is expected to close before the end of May.
Bonduelle, established in 1853, currently sells vegetables in 100 countries under various brand names.
Its Tecumseh, Ont. facility announced in January it was looking to hire 40 permanent employees, marking a 20 per cent increase in the plant's workforce.
A spokesperson for the company said part of that expansion was connected to new products and technology being transferred from a U.S. facility, but wouldn't go into further details.