The Thanksgiving holiday wasn’t a time to slow down for some dealmakers as Del Monte Foods announced plans to sell itself to an investor group led by Kohlberg Kravis Roberts & Co. for $5.3 billion, including the assumption of about $1.3 billion in debt.
According to a Del Monte statement released on Thursday, KKR, Vestar Capital Partners and Centerview Partners will pay $19 per share of Del Monte in cash. The offer represents a 40 percent premium over Del Monte’s average closing share price over the past three months to Nov. 18, the statement said. The deal is the biggest leveraged buyout of 2010, according to The New York Times .
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