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Del Monte Shareholders Approve Buyout

Del Monte Foods Co. said Monday that shareholders approved the company’s buyout by private equity investors KKR, Vestar Capital Partners and Centerview Capital, reports the San Francisco Business Times.

The deal, reached on last Thanksgiving Day, is expected to close this week.

The buyout was approved by 99 percent of shareholders voting, with 149.8 million in favor of the merger and 1.6 million shares voting against the deal.

The investor group led by Kohlberg Kravis Roberts & Co. will pay $19 for each Del Monte Foods share.

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