Move Will Consolidate Offices; Support Growth Strategy
SAN FRANCISCO--(BUSINESS WIRE)--Oct. 30, 2009--
Del Monte Foods (NYSE: DLM) announced today plans to relocate its
current headquarters within San Francisco to One Maritime Plaza at 300
Clay Street, continuing more than a 100 year old tradition of
maintaining its headquarters in the city. In doing so, the Company,
which currently has two offices in San Francisco, including its current
headquarters at The Landmark building at One Market Street, will be
uniting its San Francisco workforce into one location. Consolidating Del
Monte’s San Francisco offices builds upon the Company’s recent actions
to centralize the organization and will further support execution of the
Company’s accelerated growth strategy.
“Bringing our San Francisco teams together under one roof is important
for Del Monte and its continued growth, and a smart move for us to make
financially given the opportunities provided by the current real estate
market,” said Rick Wolford, Chairman and Chief Executive Officer of Del
Monte Foods. “This important step completes our plan to consolidate our
headquarters office and marketing functions, to provide a centralized
San Francisco location and to enhance our ability to execute our
brand-focused strategy. San Francisco is a top U.S. city which enables
us to attract top talent and our new One Maritime offices will enhance
team work, upgrade our executional efficiency and importantly, provide
room to grow.
Mr. Wolford continued, “We’re also very pleased that our headquarters
will remain in the city’s financial district where we’ll have continued
convenient access to business resources, public transportation,
recreation and other amenities. Del Monte has been in San Francisco for
more than a hundred years and is looking forward to continuing to be an
integral part of the San Francisco community for many years to come.”
One Maritime Plaza is a premier building which will provide Del Monte
with numerous benefits including increased square footage, additional
conference rooms to foster enhanced collaboration, an employee training
center to enable career development, and a physical fitness center to
support employees’ healthy lifestyles.
Del Monte’s targeted occupancy date of One Maritime Plaza is early 2011.
Approximately 400 employees will occupy 152,917 square feet of space
among seven floors.
During the summer of 2008, in furtherance of its accelerated growth
strategy, Del Monte centralized its brand support functions, including
pet marketing and pet and operations finance, in its San Francisco
office, increasing headquarters staff by approximately 25%. Prior to
that, the Company’s pet food and snack brand support functions operated
out of its Pittsburgh, PA office.
Del Monte Foods has called The Landmark building its headquarters for
approximately eight years, during which time the Company came to occupy
a total of 93,280 square feet of space. The Company’s headquarters,
including its space at 50 California Street, currently houses its
marketing, finance, human resources, legal, supply chain and executive
office functions.
In addition to 27 manufacturing plants and distribution centers in the
United States and three manufacturing plants in foreign locations, Del
Monte also has 13 customer sales offices located across the country, an
administrative office in Pittsburgh, PA, a sales operations office in
San Ramon, CA, and research and development offices in Walnut Creek and
Terminal Island, CA.
In total, Del Monte Foods employs approximately 5,400 full time and
9,400 seasonal employees worldwide.
About Del Monte Foods
Del Monte Foods is one of the country’s largest and most well-known
producers, distributors and marketers of premium quality, branded food
and pet products for the U.S. retail market, generating approximately
$3.6 billion in net sales in fiscal 2009. With a powerful portfolio of
brands including Del Monte®, S&W®,
Contadina®, College Inn®,
Meow Mix®, Kibbles 'n Bits®,
9Lives®, Milk-Bone®,
Pup-Peroni®, Meaty Bone®,
Snausages® and Pounce®,
Del Monte products are found in eight out of ten U.S. households. The
Company also produces, distributes and markets private label food and
pet products. For more information on Del Monte Foods Company (NYSE:
DLM) visit the Company’s website at www.delmonte.com.
Del Monte. Nourishing Families. Enriching Lives. Every Day.™
Forward Looking Statements
This press release contains forward-looking statements conveying
management’s expectations as to the future based on current plans,
estimates and projections. Forward-looking statements involve inherent
risks and uncertainties and Del Monte Foods Company cautions you that a
number of important factors could cause actual results to differ
materially from those contained in any such forward-looking statement.
The forward-looking statements contained in this press release include
statements related to the timing of the expected move to One Maritime
Plaza as well as the expected effects of the move. Investors are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. Del Monte Foods
Company does not undertake to update any of these statements in light of
new information or future events.
Source: Del Monte Foods
Del Monte Foods
Chrissy Stengel, 415-247-3268
Chrissy.Stengel@delmonte.com
