France-based global giant in ready-to-eat foods, Bonduelle (FP:BON), has finalized with Conagra Brands Inc. (NYSE: CAG) the acquisition of Del Monte processed fruit and vegetable business in Canada.

The CAD$43 million (US$33 million) acquisition, effective on July 3, includes the right to use the Del Monte brand on different segments of processed fruits and vegetables and stocks of products.

The acquired business excludes all industrial and personnel assets because co-packers and Bonduelle's existing production capabilities will be used.

The company said the Del Monte business in Canada, with revenues of approximately CAD$60 million (US$46 million), will complement Bonduelle Americas Long Life business unit's canned and frozen vegetable business, which is largely conducted under retailers' store brands.

This highlights the group's desired development in brand activities and expansion beyond vegetables to vegetable products, Bonduelle said.

Last year Bonduelle purchased California-based Ready Pac Foods, a market leader in single-serve salad bowls.

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