Del Monte Foods, one of the world’s biggest food distributors, said Thursday it had agreed to buy cat food maker Meow Mix Holdings for $705 million.

The deal includes about $23 million in tax benefits. Del Monte said it would finance the deal in part with proceeds from a separate deal to sell its private-label soup and infant-feeding business to TreeHouse Foods Inc. Proceeds are estimated to be about $210 million.

Del Monte has a production plant at 727 N. Iowa St. in Lawrence, where it makes Kibbles ‘n Bits dog food.

Del Monte expects the Meow Mix acquisition to close in the first quarter of fiscal 2007.

Meow Mix, based in Secaucus, N.J., had revenue of $295 million in fiscal 2005, and makes Meow Mix dry cat food varieties including Original Choice, Seafood Middles and Hairball Control Formula.

Shares of Del Monte, which separately announced a 7 percent increase in third-quarter profit, rose 4 cents to close Thursday at $10.94 on the New York Stock Exchange.