| Corporate |
| 1926
|
California
Packing Corporation (now Del Monte Foods) commenced its
operations in the Philippines under Philippine Packing
Corporation (Philpak, now Del Monte Philippines, Inc.). |
| 1928 |
Philpak
undertook first commercial planting on more than a thousand
hectares of prime agricultural land. |
| 1930 |
The
cannery received the first harvest of pineapples for processing. |
| 1933 |
Philpak
felt the effects of the "Great Depression."
The cannery was shut down and the plantation laid off
most of its workers. |
| 1941-1945 |
The
Pacific War broke out. U.S. Army converted the pineapple
fields into an airfield. Philpak shut down operations. |
| 1945-1948 |
Rehabilitation
of the plantation was completed. Replanting started by
1946 and the plantation delivered its first postwar harvest
to the newly rebuilt cannery in 1948. |
| 1957 |
Pineapple
became one of the Philippines' top 10 agricultural exports. |
| 1965 |
The
Barrio Assistance Program, Philpak's community outreach
and social responsibility program, was organized. |
| 1965-1985 |
Philpak
grew into one of the largest pineapple production source
in the world. |
|
1980 |
Tobacco giant RJR acquired Del Monte Foods. |
|
1983 |
Biscuit-maker Nabisco bought RJR. Del Monte Foods and
Philpak became part of the RJR-Nabisco business. |
| 1987 |
Philpak
changed its name to Del Monte Philippines, Inc. (DMPI). |
|
1990 |
In
an event touted by “Time” magazine as the biggest leverage
buyout at the time, KKR (Kohlberg, Kravis and Roberts) won
a bitter struggle for ownership of RJR-Nabisco. After the
takeover, KKR sold Del Monte Foods to a consortium
composed of Citicorp, Merrill Lynch, and Kikkoman in 1991. |
| Jan
1991 |
Del
Monte Foods divested 49.9% of its interest in DMPI to
Japan-based Kikkoman Corporation (15%) and to Europe-based
Del Monte International (35%) which at the time was owned
by Royal Foods of South Africa. Del Monte Foods retained a
controlling 50.1% stake. |
| Mar
1996 |
Del
Monte Foods and Kikkoman divested of their entire interest.
Following such divestment, MCI, Inc. and Del Monte Royal
became joint controlling shareholders. |
| May
1999 |
Del
Monte Pacific Limited (DMPL) was incorporated as the holding
company of the group. |
| Aug
1999 |
DMPL
was listed on the Singapore Exchange. MCI, Inc. and Del
Monte International each held 37.5% stake with the public
holding the remaining 25%. |
| May
2000 |
The
Company launched its over-the-counter American Depository
Receipt program. |
| Nov
2000 |
The Company implemented a share buyback program. |
| Jan
2001 |
DMPI
celebrated its 75th year in the Philippines. |
| Mar
2001 |
Italy-based Cirio SpA bought Del Monte Royal Food’s
interest in Del Monte International. Post Cirio
acquisition, MCI, Inc held on to 21% of DMPL shares while
Cirio SpA increased its stake to approximately 40%. The
rest of the shares remained public. |
|
Dec 2005 |
Cirio SpA sold 29% of its stake to MCI, Inc at
US$0.3818/share bringing MCI’s stake to almost 50%. MCI,
Inc, in turn, sold its 50% stake to NutriAsia Pacific Ltd
at US$0.3862/share. NutriAsia Pacific Ltd is a joint
venture between the NutriAsia Group of Companies and San
Miguel Corporation, both of the Philippines. NutriAsia
Pacific Ltd's
acquisition of the 50% stake triggered a General Offer for
the remaining 50% of the Company’s shares. |
|
Jan 2006 |
NutriAsia Pacific Ltd increased its stake to 85% after the
close of the General Offer. The remaining 15% is held by
the public. |
|
April 2007 |
The
NutriAsia Group of Companies acquired San Miguel
Corporation's entire stake in NutriAsia Pacific Ltd. |
|
July 2007 |
NutriAsia Pacific Ltd reduced its stake in the Company to
80% from 85%, to increase trading liquidity. |
