Tuesday, July 14, 2009

Del Monte Marks Tenth

Del Monte Foods has been celebrating the tenth anniversary of its listing on the New York Stock Exchange.Rick Wolford,Del Monte's CEO,said the company's business is about half-consumer and half-pet foods.Both are doing very,very well.People are eating at home more,and they are humanizing their pets.Del Monte's brands include S&W,College Inn,Contadina,Del Monte,Milk-Bone,9 Lives,Meow Mix and Puperoni.The Del Monte brand itself is a very strong brand,Mr.Wolford believes.Fifty percent of the company's commodity costs are hedged,protecting them from inflation.
Carly the golden retriever,the company mascot, accompanied Mr.Wolford as he rang the opening bell at the NYSE.

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