San Francisco, Jun. 20 - In response to published reports, Del Monte Foods Company today confirmed it is in discussions with Dongwon Enterprise Co., Ltd. and its affiliates regarding a possible sale of Del Monte's seafood business to Dongwon.
Such discussions are in connection with Del Monte’s previously announced exploration of strategic alternatives for its seafood business.
In making this announcement, Del Monte advises that there can be no assurance that the discussions with Dongwon or the exploration of strategic alternatives will result in a transaction and that the Board of Directors has not approved a transaction at this time. The Company does not intend to disclose developments with respect to such discussions or the exploration of strategic alternatives unless and until its Board of Directors deems it appropriate.