Del Monte Foods has acquired Kitchen Basics from McCormick & Company, as it looks to build a national retail presence in the stocks and broth category.
Kitchen Basics’ portfolio includes conventional and organic stocks and broths – such as regular and unsalted chicken, beef and vegetable variants, as well as turkey, seafood and creamy bean & vegetable flavours.
Del Monte Foods says that the acquisition supports its overall growth strategy, while expanding the geographic reach of its stocks and broths business.
Greg Longstreet, president and CEO of Del Monte Foods, said: “Del Monte Foods has gone through a positive transformation over the past five years and we have become a leading innovative CPG growth company. As we plan for the next decade of growth, we’re committed to strengthening our branded product portfolio to meet consumers’ changing needs.”
“Building on our regional College Inn brand, the acquisition of Kitchen Basics will provide synergies across our business to scale our broth and stock portfolio across North America.”
No employees were involved in the transaction, and financial terms have not been disclosed.
© FoodBev Media Ltd 2022
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