Del Monte Group Ltd

Two Food Processors Agree to Link Up: Tri Valley Growers, a California cooperative, and Del Monte Group Ltd. signed a letter of intent to join forces to package and sell products for international markets. The partnership would link Del Monte's fruit and vegetable sources abroad with Tri Valley Growers' fruit and vegetable operations in California.

Two Food Processors Agree to Link Up: Tri Valley Growers, a California cooperative, and Del Monte Group Ltd. signed a letter of intent to join forces to package and sell products for international markets. The partnership would link Del Monte's fruit and vegetable sources abroad with Tri Valley Growers' fruit and vegetable operations in California.

Fort Worth-based Texas Pacific Group and other investors agreed to buy Del Monte Foods Co., one of the largest U.S. canned fruit and vegetable companies, for about $800 million in cash. Del Monte, which had sales of about $1.2 billion last year, is owned by a financial group led by Merrill Lynch & Co. The purchase price was confirmed by Andrew Hawkins, finance director of Del Monte Group Ltd., a separate Del Monte company. Texas Pacific and Del Monte declined to comment.