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Del Monte to Buy Contadina Line From Nestle

November 15, 1997|Bloomberg News

Del Monte Foods Co. said it will buy the Contadina brand of canned tomato products and some related operations from Nestle's U.S. unit, doubling annual sales of its canned tomato brands to $400 million. Terms weren't disclosed. San Francisco-based Del Monte Foods, which is owned by Texas Pacific Group, will receive Contadina's pizza sauce and bread crumbs business as part of the purchase, as well as two tomato processing factories in Woodland and Hanford, Calif. Nestle will keep the Contadina line of refrigerated pasta and sauces. Del Monte, the world's largest producer of brand-name canned fruits and vegetables, will get a line of tomato products not currently sold under a Del Monte brand: tomato puree, tomato paste, pizza sauce and canned tomatoes. Nestle, based in Switzerland, said it agreed to sell the business after concluding that it could find more profitable growth opportunities in other areas of the food industries.

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