Del Monte Pacific Ltd. announced on Friday that it has successfully completed the acquisition of a 14 percent indirect stake in Agro Tech Foods Ltd. (ATFL), a publicly listed Indian food company. This move is part of Del Monte Pacific’s ongoing restructuring of its investment in Del Monte India.
As part of the deal, ATFL acquired the 59 percent equity stake in Del Monte India from the Bharti Group, which now gives ATFL full 100 percent ownership of Del Monte Foods Private Limited in India.
Del Monte Pacific confirmed that it will continue licensing the Del Monte trademark to Del Monte India on a perpetual and exclusive basis. This arrangement ensures the protection of the brand’s value by maintaining high-quality standards and continuing to earn royalties. The deal also grants ATFL access to Del Monte’s extensive portfolio of food products, including Italian foods, condiments, packaged fruits, and beverages.
In exchange, the Bharti Group will receive a 21 percent stake in ATFL, making it the second-largest shareholder in the company.
