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Del Monte Foods Co

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BUSINESS
June 21, 2008 | From Times Wire Services
Del Monte Foods Co.'s stock rose 5.3% after the firm announced that it was in talks to sell its StarKist seafood division to South Korea's Dongwon Group. Del Monte said last month that it might sell StarKist because of higher fish costs. The San Francisco company bought StarKist in 2002 as part of a $2.9-billion deal.
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BUSINESS
June 21, 2008 | From Times Wire Services
Del Monte Foods Co.'s stock rose 5.3% after the firm announced that it was in talks to sell its StarKist seafood division to South Korea's Dongwon Group. Del Monte said last month that it might sell StarKist because of higher fish costs. The San Francisco company bought StarKist in 2002 as part of a $2.9-billion deal.
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BUSINESS
November 17, 1995
Developer Koll Real Estate Group Inc. said that it has agreed to manage $22 million in new building projects for Del Monte Foods Co., the San Francisco-based canning company. Koll will handle development and construction of distribution and ripening plants that Del Monte is planning in Mendota, Ill., Plover, Wis., and Toppenish and Yakima, Wash. Officials would not disclose how much Koll will be paid.
BUSINESS
December 1, 2006 | From Reuters
Del Monte Foods Co. reported a 47% drop in quarterly profit Thursday as it was hit by higher costs for fish, peaches and tomatoes as well as expenses for integrating acquisitions. But earnings excluding one-time items exceeded expectations, helped by price increases and cost cuts. The San Francisco-based maker of canned fruit, StarKist tuna and Meow Mix cat food posted a profit of $23.2 million, or 11 cents a share, for the fiscal second quarter that ended Oct. 29. That was down from $43.
BUSINESS
December 1, 2006 | From Reuters
Del Monte Foods Co. reported a 47% drop in quarterly profit Thursday as it was hit by higher costs for fish, peaches and tomatoes as well as expenses for integrating acquisitions. But earnings excluding one-time items exceeded expectations, helped by price increases and cost cuts. The San Francisco-based maker of canned fruit, StarKist tuna and Meow Mix cat food posted a profit of $23.2 million, or 11 cents a share, for the fiscal second quarter that ended Oct. 29. That was down from $43.
BUSINESS
September 22, 1994 | From Bloomberg Business News
Del Monte Foods Co. said it scrapped its pending sale to an investor group led by Carlos Cabal Peniche, who is on the run from Mexican authorities. The group had pledged to buy San Francisco-based Del Monte for $277 million in cash and more than $630 million in debt. Under the terms of the sale agreement, Del Monte is keeping $30 million it had received through a letter of credit, because the transaction didn't close before Sept. 19.
BUSINESS
June 23, 2006 | From Reuters
Del Monte Foods Co. said Thursday that fiscal fourth-quarter profit tripled, beating estimates, as price increases and cost cutting offset rising energy and packaging prices. The San Francisco company also raised its long-term sales and earnings targets, even as it planned to cut 85 sales and administrative jobs. Del Monte also said it would revamp its dry pet food manufacturing to lower delivery costs.
BUSINESS
March 20, 1998 | From Bloomberg News
Del Monte Foods Co., the world's largest producer of canned fruits and vegetables, will try to raise about $227 million through an initial stock offering, using the money to reduce its debt, according to filings Thursday with the Securities and Exchange Commission. As it moves toward becoming a public company, San Francisco-based Del Monte also plans to build on its well-known brand name, developing new products and pursuing acquisitions of other food brands, the filings said.
BUSINESS
June 29, 2000
* FedEx Corp., the largest overnight delivery company, said its fiscal fourth-quarter profit rose 11%, more than forecast, on a rebound in U.S. shipments. Net income rose to $245 million, or 85 cents a share, in the quarter ended May 31, from $221 million, or 73 cents, a year earlier. Revenue climbed 11% to $4.85 billion from $4.38 billion. FedEx was forecast to earn 81 cents, the average estimate of analysts polled by First Call/Thomson Financial. Shares of Memphis, Tenn.
OPINION
August 19, 2007
Private equity: An article in the Aug. 12 Opinion section on private equity funds buying U.S. companies stated that the Carlyle Group owns Del Monte Foods Co. It does not own the company.
BUSINESS
June 23, 2006 | From Reuters
Del Monte Foods Co. said Thursday that fiscal fourth-quarter profit tripled, beating estimates, as price increases and cost cutting offset rising energy and packaging prices. The San Francisco company also raised its long-term sales and earnings targets, even as it planned to cut 85 sales and administrative jobs. Del Monte also said it would revamp its dry pet food manufacturing to lower delivery costs.
BUSINESS
June 29, 2000
* FedEx Corp., the largest overnight delivery company, said its fiscal fourth-quarter profit rose 11%, more than forecast, on a rebound in U.S. shipments. Net income rose to $245 million, or 85 cents a share, in the quarter ended May 31, from $221 million, or 73 cents, a year earlier. Revenue climbed 11% to $4.85 billion from $4.38 billion. FedEx was forecast to earn 81 cents, the average estimate of analysts polled by First Call/Thomson Financial. Shares of Memphis, Tenn.
BUSINESS
March 20, 1998 | From Bloomberg News
Del Monte Foods Co., the world's largest producer of canned fruits and vegetables, will try to raise about $227 million through an initial stock offering, using the money to reduce its debt, according to filings Thursday with the Securities and Exchange Commission. As it moves toward becoming a public company, San Francisco-based Del Monte also plans to build on its well-known brand name, developing new products and pursuing acquisitions of other food brands, the filings said.
BUSINESS
November 17, 1995
Developer Koll Real Estate Group Inc. said that it has agreed to manage $22 million in new building projects for Del Monte Foods Co., the San Francisco-based canning company. Koll will handle development and construction of distribution and ripening plants that Del Monte is planning in Mendota, Ill., Plover, Wis., and Toppenish and Yakima, Wash. Officials would not disclose how much Koll will be paid.
BUSINESS
September 22, 1994 | From Bloomberg Business News
Del Monte Foods Co. said it scrapped its pending sale to an investor group led by Carlos Cabal Peniche, who is on the run from Mexican authorities. The group had pledged to buy San Francisco-based Del Monte for $277 million in cash and more than $630 million in debt. Under the terms of the sale agreement, Del Monte is keeping $30 million it had received through a letter of credit, because the transaction didn't close before Sept. 19.
BUSINESS
March 4, 2006 | From Bloomberg News
Merrill Lynch & Co.'s buyout unit and J.W. Childs Associates have agreed to acquire an Irvine marketing company from Allied Capital Corp. for $1.05 billion. New York-based Merrill Lynch and Boston-based J.W. Childs will acquire a majority stake in Advantage Sales & Marketing, the companies said. Advantage has 1,200 clients, including Unilever and Del Monte Foods Co.
BUSINESS
April 7, 2007 | From Bloomberg News
Del Monte Foods Co. on Friday broadened its recall of dog treats that may have been tainted with contaminated wheat gluten from China. Del Monte widened the range of Jerky Treats and Ol' Roy and Happy Tails Beef Flavor treats covered by a recall first announced March 31. The latest recall, which also includes some private-label snacks, adds packages with different expiration dates, Del Monte said.
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