In a move to bolster its broth and stocks portfolio and build a national presence, Del Monte has acquired Kitchen Basics, a line of stocks and broths from McCormick & Company.
"Del Monte Foods has gone through a positive transformation over the past five years, and we have become a leading innovative CPG growth company," said Greg Longstreet, president and CEO of Del Monte Foods, in a statement. "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."
The Kitchen Basics brand was founded in 1996 and includes conventional and organic products. Del Monte, focusing on innovation, renovation, and customization of its portfolio, chose this company because of its geographic impact.
"We've seen heightened interest in broth and stocks over the last few years as consumers double down on home meal preparation, health and wellness," said Bibie Wu, CMO of Del Monte Foods, in a statement. "Kitchen Basics® is well-known for its culinary quality. We're excited to bring Kitchen Basics into the Del Monte family of brands to help people create healthful meals they love."
Specific terms of the purchase were not disclosed.
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