Key Points
NEW DELHI: Bharti Enterprises is looking to exit Del Monte Foods, its 50:50 joint venture with Singapore-listed packaged foods company Del Monte Pacific Ltd, executives in direct knowledge of the development said..
"Bharti group has mandated bankers to identify potential buyers to sell its stake in Del Monte Foods..
Three years later, in 2007, the Singapore-listed Del Monte Pacific Ltd acquired 40.1% stake in FieldFresh Foods for $20.8 million..
And in 2021, FieldFresh Foods was renamed Del Monte Foods Pvt Ltd, which the company had attributed to creating a "sharper focus on branded processed foods and retail businesses"...
"It is not yet clear if Del Monte Pacific plans to scale down its India operations and sell its products only through imports, or whether it wants to collaborate with other partners in India after Bharti's expected exit in the joint venture," the executive mentioned earlier, said...
