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Del Monte exits India's Sundrop brands to raise ₱2.5 billion

Business | The Stock Market

Del Monte exits India's Sundrop brands to raise ₱2.5 billion

By James A. Loyola

Del Monte Pacific Ltd. agreed to sell its 14.38 percent stake in India’s Sundrop Brands Ltd. in a three-part deal valued at approximately ₱2.5 billion, part of a strategy to offload non-core assets and shore up its balance sheet.

In a disclosure to the Philippine Stock Exchange, the food and beverage giant said the company, through its indirect subsidiary DMPL India Ltd., entered into a share purchase agreement and an options agreement with CAG-Tech (Mauritius) Ltd.

Under the initial phase, DMPL India will sell 1.88 million ordinary shares, or about a 4.99 percent stake, to CAG-Tech for $14.8 million.

The agreement also includes a call option for CAG-Tech and a put option for DMPL India covering an additional 4.99 percent stake for another $14.8 million.

Both options are exercisable starting April 1, 2026. Del Monte plans to sell the remaining 4.4 percent stake, or 1.66 million shares, to third-party buyers under similar terms.

Del Monte said the divestment of Sundrop—a manufacturer of snacks, spreads, and edible oils listed in Mumbai—is a move to optimize capital deployment by realizing value from a non-core holding.

The company said the proceeds will immediately improve liquidity and provide financial flexibility for its core business segments.

The transaction is intended to mitigate risk and prevent further capital erosion from an asset that has shown declining value, Del Monte added.

The company expects to reallocate the preserved capital into more strategic, value-accretive initiatives.

Related Tags

Del Monte Pacific Limited Sundrop Brands Limited DMPL India Limited

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