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Article: Korea: South Korea Dongwon to buy StarKist for about $300 mln.
- Article from:
- TendersInfo
- Article date:
- June 26, 2008
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Byline: pinto03
South Korean food group Dongwon said on Tuesday that it will buy canned tuna company StarKist from Del Monte Foods Co for about $300 million, in the latest push by South Korean food makers for global expansion.Del Monte, whose brands include College Inn broths and Meow Mix pet food, was exploring a possible sale of StarKist as the unit, acquired by Del Monte in 2002, has weighed on its profits in recent quarters as the cost of skipjack tuna soared.
"The acquisition price will slightly top $300 million," a Dongwon spokesman said by telephone.The South Korean company will hold a news conference on Thursday about the acquisition, he added, ...