Press Conference to Announce StarKist Acquisition Delayed
Dongwon Group cancelled a press conference in Seoul, South Korea, today announcing its acquisition of the StarKist canned tuna brand from Del Monte Foods Co. of San Francisco.
The press conference was delayed due to "some differences between the two sides," a Dongwon official told the Asia Pulse news wire, declining to elaborate.
The official did not tell Asia Pulse when Dongwon will announce the deal.
News surfaced earlier this week that the South Korean food conglomerate, which holds about three-quarters of the country's canned tuna market, was expected to purchase StarKist, one of the United States' top three canned tuna brands, for more than $300 million.