MANILA – Del Monte Pacific Limited (DMPL), the Singapore- and Philippine-listed food giant led by the Campos family, has completed the sale of a 4.99% stake in Sundrop Brands Limited—a leading Indian food and edible oils company—for approximately $15 million. The transaction, disclosed in early January 2026, is the first tranche of a broader divestment plan, with additional sales (including a 1.45% stake to an independent buyer) in the pipeline.
The buyer for the initial tranche is CAG-Tech (Mauritius) Limited, the promoter group backed by private equity firms Convergent Finance and Samara Capital. Proceeds will bolster DMPL’s core Philippine operations amid efforts to optimize capital and reduce non-core holdings.
Sundrop Brands—known for Sundrop cooking oil, ACT II popcorn, spreads, and ready-to-cook foods—emerged after Agro Tech Foods rebranded following its 2024 acquisition of Del Monte Foods India (where DMPL previously held a stake via a joint venture).
DMPL’s gradual exit from Sundrop aligns with strategic refocusing post-balance sheet pressures, including its US subsidiary’s challenges. The company emphasized unlocking value from non-core assets to support growth in branded consumer foods.
Transaction Snapshot:
| Detail | Information |
|---|---|
| Stake Sold | 4.99% (1,881,073 shares) |
| Buyer | CAG-Tech (Mauritius) Limited |
| Proceeds | ~$15 million |
| Additional Sale | 1.45% (547,946 shares) to third-party |
| Use of Funds | Support Del Monte Philippines operations |