M&A Deal Summary

Penfund and Sun Capital Partners Acquire Del Monte Canada

On January 1, 2006, mezzanine finance firm Penfund and private equity firm Sun Capital Partners acquired food company Del Monte Canada

Acquisition Highlights
  • This is Penfund’s 1st and Sun Capital Partners’ 3rd transaction in the Food sector.
  • This is Penfund’s 2nd and Sun Capital Partners’ 1st transaction in Canada.
  • This is Penfund’s 2nd and Sun Capital Partners’ 1st transaction in Ontario.
Investment Fate
  • Del Monte Canada was sold to a publicly-traded strategic buyer in 2012.

M&A Deal Summary

Date 2006-01-01
Target Del Monte Canada
Sector Food
Buyer(s) Penfund
Sun Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Del Monte Canada

Toronto, Ontario, Canada
Del Monte Canada, Inc. is a provider of canned fruits, refrigerated fruits, and canned tomatoes and vegetables in Canada.

Search 215,058 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 2

Buyer

Penfund

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1979
PE ASSETS 2.7B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Penfund is a private investment firm that provides equity, junior capital, and alternative financing to Canadian-based middle-market companies with EBITDA of at least C$20 million. Penfund can commit up to C$225 million per transaction. Penfund does not have any industry preferences and its investments are generally used to support growth needs, recapitalization, shareholder liquidity, acquisitions, and buyouts. Penfund was formed in 1979 and is based in Toronto.


DEAL STATS #
Overall 2 of 28
Sector: Food M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 8
State: Ontario M&A 2 of 10
Country: Canada M&A 2 of 14
Year: 2006 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-24 Pet Valu

Markham, Ontario, Canada

Pet Valu is Canada's leading retailer of pet food and pet-related supplies with over 600 corporate-owned or franchised locations across the country. For more than 40 years, Pet Valu has earned the trust and loyalty of pet parents by offering knowledgeable customer service, a premium product offering and engaging in-store services. Pet Valu's neighbourhood stores offer more than 7,000 competitively-priced products, including a broad assortment of premium, super premium, holistic and award-winning proprietary brands. Pet Valu was incorporated in 1976 and is based in Markham, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-11 Maddocks Systems

Beachwood, Ohio, United States

As the world's largest provider of trucking software to the Truckload, Less than Load and Logistics industry, TMW's customers gain efficiency by being able to better manage their assets as they interact within the supply chain. For 25 years, TMW's enterprise management trucking software has helped customers improve operational efficiency, deliver superior customer service and sustain long-term profitability.

Sell -
Buyer

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 27 of 172
Sector: Food M&A 3 of 10
Type: Buyout (LBO, MBO, MBI) M&A Deals 17 of 75
State: Ontario M&A 1 of 3
Country: Canada M&A 1 of 4
Year: 2006 M&A 4 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Conex Banninger

Tipton, United Kingdom

Conex Banninger Ltd. is a manufacturer of fittings in domestic, commercial, industrial and shipbuilding environments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-01 DBApparel SA

Rueil-Malmaison, France

DBApparel designs, manufactures and markets branded ladies and men's intimate apparel with such well-known names as DIM, Playtex*, Wonderbra*, Lovable, Abanderado, Princesa, Unno, Nur Die, Chantal Thomass, Bellinda, and Shock Absorber. With key market positions in France, Germany, Italy, Spain, the United Kingdom, and throughout Eastern Europe, products are sold through traditional trade channels (department stores, retailers, wholesalers, and mail order) as well as specialized chain stores and mass market retailers.

Buy -