Kohlberg Kravis Roberts is leading a buy-out group and has agreed to purchase Del Monte Foods for nineteen dollars per share, in an agreement that has valued the American food and pet products firm at about five billion dollars, including its debt.

The deal is one of the biggest leveraged buy-outs this year and highlights the reappearance of "take-private" treaties in America in the consumer products sector.

KKR & Co. is working in unison with Centerview Partners private-equity fund, a firm run by James Kilts, the former chief executive officer of Gillette Co. in its objective of acquiring Del Monte Foods Co., as stated by two people aware of the matter.

Another buyout firm named Vestar Capital Partners is also joining KKR in the aim of the pet-food company, as stated by one of the people, who wanted to remain anonymous because the talks are private.

KKR and Del Monte are trying to settle for the agreement as soon as today, though negotiations may linger for some more days as stated by the person.

If KKR join hands with Kilts, the company can benefit from the expertise of a former CEO who had been praised by the billionaire investor; Warren Buffett for making Gillette to turnaround .Kilts previously ran Nabisco Holdings Corp. and Kraft when it was a unit of Philip Morris Cos.

Both Vestar and Centerview will be contributing lesser amount of equity than KKR in the acquisition as stated by the person. Kilts is sixty two years old and have helped to build Centerview, a New York-based firm in 2006. He is overseeing a buy out fund worth five hundred million dollars in comparison of the fifty five decimal five billion dollars worth fund managed by KKR across private-equity and other asset classes. The total market value of Del Monte is about three decimal five billion dollars.