PHILIPPINES - We recently caught wind that Del Monte Pacific Limited has finalized a deal with SEA Diner Holdings to sell a 12 percent stake in its Philippine subsidiary. Valued at $120 million, the investment company has now officially acquired the stake.
As reported by Global Legal Chronicle, SEA has purchased roughly 335.7 million shares from Del Monte.
The operations acquired focus on the production and sale of food and beverage products in the Philippines. With one of the largest pineapple operations, SEA looks to leverage Del Monte’s divestment to build out the consumer sector in China and Southeast Asia.
You will be hard-pressed to find an industry acquisition that we haven’t covered here at ANUK, so keep a tab open to stay up to date.
