Del Monte Pacific Ltd. (DMPL) has completed the first phase of its planned exit from Indian food company Sundrop Brands Ltd., locking in fresh proceeds while advancing a broader portfolio rationalization strategy.
The listed food group said its indirect subsidiary, DMPL India d, has finalized the sale of 1.88 million ordinary shares in Sundrop Brands, equivalent to about 4.99 percent equity interest. The transaction follows a share purchase agreement signed on December 16, 2025, with CAG-Tech (Mauritius) Limited, after all required conditions were met. The group has received roughly USD15 million in cash from the deal.
The completed transaction represents the first tranche of DMPL’s proposed disposal of its Sundrop Brands stake, first announced in mid-December. The sale strengthens the company’s liquidity position and provides additional financial flexibility as it manages operations across multiple markets.
DMPL said it has also taken the next step in the divestment process. On December 24, DMPL India entered into a separate agreement with an independent third-party buyer to sell another 547,946 shares, representing about 1.45 percent of Sundrop Brands. The terms of the second deal were negotiated on an arm’s-length basis and largely mirror those of the initial tranche.
Completion of the second transaction remains subject to the fulfillment of customary closing conditions. Once finalized, the sale would further reduce DMPL’s exposure to the Indian food brand.
