Del Monte Pacific Ltd. has completed its exit from Sundrop Brands, securing approximately $14.1 million in fresh capital.
In a disclosure released Friday, the food and beverage giant said the proceeds from the sale of its remaining stake in the Indian food company will be used to support working capital requirements and reduce debt obligations at its Philippine operations.
Del Monte Pacific confirmed that its indirect subsidiary, DMPL India Limited, completed the sale of 1.88 million ordinary shares in Sundrop Brands to CAG-Tech (Mauritius) Ltd. on Thursday, 4 June.
The shares, representing approximately 4.99 percent of Sundrop Brands’ issued share capital, were sold at an agreed exercise price of INR715 per share, generating total proceeds of about $14.13 million.
The transaction, the second and final tranche of a divestment first announced in December 2025, completed Del Monte Pacific’s exit from the remaining Sundrop Brands stake covered under an options agreement between the parties.
“The net proceeds from the Tranche 2 Disposal (after deducting estimated transaction expenses) will be applied toward supporting the working capital and debt obligations of Del Monte Philippines, Inc., the Group’s main operating subsidiary,” the company said.
Under the December 2025 options agreement, CAG-Tech was granted a call option to acquire the shares but did not exercise the right before the 30 April deadline.
DMPL India subsequently exercised its put option, effectively requiring the buyer to complete the acquisition.
Del Monte Pacific is a global producer and marketer of packaged fruits, beverages, and culinary products, with Del Monte Philippines serving as its principal operating subsidiary.
