ID :
23132
Tue, 10/07/2008 - 14:17
Auther :
Shortlink :
https://www.oananews.org//node/23132
The shortlink copeid
Dongwon completes acquisition of Del Monte's StarKist for US$359 mln
SEOUL, Oct. 7 (Yonhap) -- South Korean food and financial conglomerate Dongwon Group said Tuesday it has completed its takeover of the StarKist division of Del Monte Foods Co. for US$359 million.
The acquisition is expected to help Dongwon, which is the parent of the nation's
largest canned-tuna maker, increase sales in the U.S. market, Dongwon Group Vice
Chairman Park In-gu said.
"The acquisition is meaningful because it allows us to do business in the U.S.
with the brand of StarKist," Park said in a statement.
Dongwon's affiliates include Dongwon Industries Co., the world's biggest tuna
fishing company, and Dongwon F&B Co., a processed food maker.
StarKist, which was sold as part of Del Monte's restructuring steps, controls 37
percent of the U.S. processed tuna market, which was worth $1.8 billion last
year, Dongwon said earlier.
The acquisition is expected to help Dongwon, which is the parent of the nation's
largest canned-tuna maker, increase sales in the U.S. market, Dongwon Group Vice
Chairman Park In-gu said.
"The acquisition is meaningful because it allows us to do business in the U.S.
with the brand of StarKist," Park said in a statement.
Dongwon's affiliates include Dongwon Industries Co., the world's biggest tuna
fishing company, and Dongwon F&B Co., a processed food maker.
StarKist, which was sold as part of Del Monte's restructuring steps, controls 37
percent of the U.S. processed tuna market, which was worth $1.8 billion last
year, Dongwon said earlier.
