The Del Monte® name has been synonymous with premium foods since its debut in 1886. For generations, our company has proudly earned our reputation with a series of innovations and a singular dedication to quality.Today that commitment to quality is deeply embedded in our culture. At Del Monte, we will always strive to cultivate the best garden quality® vegetables, fruits, and tomatoes to help you and your family live a life full of vitality and enjoyment
DEL MONTE PACIFIC LIMITED (Incorporated in the British Virgin Islands) ACQUISITION OF DEL MONTE FOODS’ CONSUMER FOOD BUSINESS • Acquisition of leading U.S. canned fruit, vegetable and broth business • Includes iconic U.S. brands Del Monte, Contadina, S&W and College Inn • Reunites Del Monte Pacific with U.S. mother brands and opens access to well-established and profitable U.S. packaged food market • Adds net sales to Del Monte Pacific of more than US$1.8 billion and adjusted EBITDA of approximately US$180 million Singapore/Manila, 11 October 2013 — Singapore Mainboard and Philippine Stock Exchange dual listed Del Monte Pacific Limited (Bloomberg: DELM SP, DMPL PM) (the “Company” or “DMPL”) announced today that it has entered into a definitive agreement to acquire, through a new subsidiary, the consumer food business of Del Monte Foods (“DMF”), a privately-owned U.S. corporation, for US$1.675 billion (subject to certain adjustments at closing). The closing of the transaction is subject to regulatory approvals and customary closing conditions. DMF (www.delmonte.com) owns the Del Monte brand rights for processed food products in the United States and South America. DMF’s consumer business has a strong portfolio of leading brands, with seasoned employees, healthy cash flows and US$1.8 billion of sales and US$178 million of adjusted EBITDA in the fiscal year ended 28 April 2013. Adjusted EBITDA excludes one-time items that are not expected to recur. The business is centered on the iconic Del Monte brand and further includes the Contadina, S&W and College Inn brands. The consumer business enjoys leading positions in large and profitable categories that include #1 branded market share positions in the U.S. in major canned fruit and vegetable categories and #2 positions in canned tomato and broth categories. This leading branded market position in the canned fruit and vegetable segments provides DMPL with significant scale and reach and, the Company believes, an opportunity to unlock meaningful potential synergies. Under the terms of the purchase agreement, the Company will purchase the brands and certain assets, and assume certain liabilities related to DMF’s consumer food business in the U.S., as well as equity interests in certain South American subsidiaries from DMF. “This landmark transaction offers DMPL greater access to a well-established, attractive and profitable branded consumer food business in the world’s biggest market. Prior to this acquisition, the U.S. was one of few key markets where our Company did not have |