Del Monte Pacific
It has been a year since Conserve Italia, a group of Italian co-operatives, sold France-based packaged fruit supplier St Mamet to French private-equity firm Florac. Matthieu Lambeaux, the former Findus executive, had joined Florac in May 2015 to help the family-owned Florac buy branded food companies in France and became the CEO of St Mamet after the takeover. John Shepherd met Lambeaux at the SIAL trade show last month to discuss his plans to grow the business.
Del Monte Pacific has reported muted growth in third-quarter sales after a decline in revenue from its business in the US, its largest division.
Del Monte Pacific has reported lower half-year sales and earnings, although the canned fruit-to-condiments supplier sought to underline it had seen an increase in underlying profits.
Del Monte Pacific revealed narrower losses in the first quarter of its financial year and said it expects to turn a profit in fiscal 2017.
Del Monte Foods has launched a line of Fruit Cup snacks in the US made "just for grown-ups".
Produce giant Del Monte Pacific is back in the black again, with full year results showing an increase in profits, largely thanks to a one-off gain.
Del Monte Foods is to close a vegetable processing site in North Carolina, a move affecting 230 full-time staff and 92 seasonal employees.
Del Monte Foods has announced plans to switch to non-genetically modified ingredients in parts of its range on sale in the US this year.
Del Monte Foods is to reduce the amount of bisphenol A it uses in the packaging of its products in the US.
Del Monte Pacific has reported a drop in third-quarter sales amid pressure on its US arm - and the company warned the squeeze on its business in the country could continue into the last three months of its financial year.
Del Monte Pacific has reported improving profitability and higher sales for the first half of its 2015/2016 fiscal year.
Del Monte Pacific has promoted CFO Ignacio Carmelo Sison to the post of chief corporate officer.
Del Monte Pacific reported lower first quarter losses, with an improved operating performance propelled by sales growth in the US and Philippines.
This week, B&G Foods announced it had acquired General Mills' struggling Green Giant business in a US$765m deal. Elsewhere, Arla Foods struck two joint ventures in Senegal and Nigeria as the dairy group looks to further expand its presence in Africa. Meanwhile, Campbell Soup Co. reported its full year results and issued a 2015/16 forecast above Wall Street estimates. Here is the week in quotes.
Del Monte Pacific has said it "looks forward" to a return to the black in its 2015/16 financial year after reporting annual losses of US$38m due to costs from its acquisition of Del Monte Foods' consumer division.
Del Monte Pacific has acquired US produce group Sager Creek Vegetable Company through its US subsidiary Del Monte Foods for US$75m.
Del Monte Pacific Ltd said today (11 March) that it has "stabilised" its business – despite racking up a net loss in the first nine months of the year – thanks to the completion of a rights issue, the proceeds from which will be used to pay down short term debt.
Del Monte Pacific revealed that net profit plunged in the second quarter as acquisition-related expenses weighed on the bottom line.
Del Monte Pacific and Spanish fruit producer Nice Fruit SL have entered a joint venture agreement for the construction of a cold storage facility in the Philippines.
Del Monte Pacific plans to issue 36m preferred shares at US$10 per share as part of efforts to raise funds in order to refinance debt.
Del Monte Pacific racked up a net loss for the first quarter of its financial year as costs related to its US$1.68bn acquisition of Del Monte Foods dented the bottom line.
Del Monte Pacific, the Asia-based group that recently acquired Del Monte Foods' canned foods arm, has reported higher underlying annual profits.
Singapore-based food and drink group Del Monte Pacific has booked an increase in underlying third-quarter profits on the back of higher branded and own-label sales.
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