Del Monte Foods, Inc. Acquires Kitchen Basics To Build A National Retail Presence In Broth And Stocks
Aug 03, 2022•over 3 years ago
Acquiring Company
Del Monte Foods
Acquired Company
McCormick & Company
Description
Del Monte Foods, Inc., announced today that it completed the acquisition of Kitchen Basics®, a line of ready-to-use stocks and broths from McCormick & Company. Kitchen Basics® will join Del Monte's brand portfolio as the company expands its national retail presence in the category.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed