Del Monte Foods Company (NYSE: DLM), announced yesterday the completion of the sale of the company’s Woodland, California tomato facility to Pacific Coast Producers (“PCP”), a California grower cooperative. Terms of the sale were not disclosed.
As previously announced, Del Monte closed its Woodland plant in January 2001 when it consolidated its tomato operations into the Company’s state-of-the-art tomato processing facility in Hanford, California. The majority of the Company’s Del Monte, Contadina and S&W brands of tomato products are now processed in Hanford, which is situated in close proximity to the Company’s raw product supply. Del Monte Foods acquired both the Hanford and the Woodland facilities in December 1997, as part of the Company’s acquisition of the Contadina canned tomato business from Nestle USA, Inc.
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The Woodland plant, which is near to PCP’s growers and supply, will become PCP’s main tomato facility. PCP plans to commence tomato operations at the Woodland plant in 2002.
Del Monte Foods Company, with net sales of $1.5 billion in fiscal 2000, is the largest producer and distributor of premium quality, branded processed fruit, vegetable and tomato products in the United States. The Del Monte brand was introduced in 1892 and is one of the best known brands in the United States. Del Monte products are sold through national grocery chains, independent grocery stores, warehouse club stores, mass merchandisers, drug stores and convenience stores under the Del Monte, Contadina, S&W and Sunfresh brands. The Company also sells its products to the U.S. military, certain export markets, the foodservice industry and food processors. The Company operates twelve production facilities in California, the Midwest, Washington and Texas and seven distribution centers.
