Del Monte Foods Sells Food Division To Filipino Company
PITTSBURGH (KDKA) -- California-based Del Monte Foods is selling its food division to a company from the Philippines with a similar name: Del Monte Pacific Limited.
This will bring the Filipino company into the American market, selling familiar food brands like Del Monte, Contadina and SW.
The California company will change its name to focus solely on selling its pet products -- like Milk-Bones, Kibbles and Bits and Meow Mix.
Del Monte Foods says that more than 300 employees work in their building here on the North Shore in Pittsburgh.
Some of the folks work in the foods division that will be sold to the Philippines company.
Others work in the pet division that will remain with Del Monte foods under a different name.
And some work for both divisions.
How many jobs will remain here in Pittsburgh and how this all gets sorted out will not be determined until the deal closes in early 2014.
But in a statement, the Filipino company intimated that perhaps not much will change at first, noting, "It is expected that the operating organization of del Monte food's consumer food division will largely transfer to the company together with the assets and operations of the business."
The Asian firm is buying the Del Monte foods line for $1.68 billion.
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