March 3, 2006 |
Del Monte Foods Co. on Thursday said it would buy cat food maker Meow Mix Holdings Inc. for $705 million and sell its private-label soup and baby food business to focus on its higher-margin branded businesses. The San Francisco-based company also announced quarterly profit that beat analyst estimates. Del Monte -- whose pet food brands include 9Lives, Snausages and Kibbles 'n Bits -- will acquire Meow Mix from New York-based private equity firm Cypress Group.
December 1, 2006 |
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.
November 15, 1997 |
Del Monte Foods Co. said it will buy the Contadina brand of canned tomato products and some related operations from Nestle's U.S. unit, doubling annual sales of its canned tomato brands to $400 million. Terms weren't disclosed. San Francisco-based Del Monte Foods, which is owned by Texas Pacific Group, will receive Contadina's pizza sauce and bread crumbs business as part of the purchase, as well as two tomato processing factories in Woodland and Hanford, Calif.
July 30, 1998 |
Del Monte Foods Co., the largest U.S. producer of canned fruits and vegetables, this week said it has delayed its initial public offering because its owner couldn't get the price it wanted in a weak market for IPOs. Meanwhile, Skechers USA Inc., the Manhattan Beach-based maker of casual shoes, filed papers for an IPO that the company hopes could raise as much as $115 million.
February 5, 1999 |
Canned-foods giant Del Monte Foods Co. and existing shareholders on Thursday raised $300 million in an initial stock sale. The San Francisco-based company sold 16.7 million shares at $15 each, the midpoint of the $14 to $16 expected range set by lead underwriter Morgan Stanley Dean Witter & Co. The company raised a total of about $250.5 million. Existing shareholders sold an additional 3.3 million shares at the same price, raising $49.5 million.
August 31, 2007 |
Del Monte Foods Co., maker of Meow Mix cat food, StarKist tuna and canned fruit, posted a smaller-than-expected drop in profit as it offset higher raw material and fuel costs with strong pet food and fruit sales and with price hikes. Del Monte, like other food companies, has been squeezed by higher corn costs from a surge in ethanol production, but increased prices have helped to offset those pressures. Earnings for the fiscal first quarter that ended July 29 fell to $3.