Private Equity Group to Buy Del Monte

SAN FRANCISCO (TheStreet) -- Del Monte Foods has agreed to be acquired for $4 billion in cash by a group of private equity investors including Kohlberg Kravis Roberts.

The purchasing group, which also includes Vestar Capital Partners and Centerview Partners, will pay $19.00 a share for the San Francisco-based food and pet products company. The buyers will also assume about $1.3 billion in debt.

The purchase price represents a 6% premium to Del Monte's closing share price of $17.99 on Wednesday.

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