Del Monte Sells Some Brands to Royal Canin

SAN FRANCISCO - Feb 6/04 - SNS -- Del Monte Corporation, and DLM Foods Canada Corp. sold their rights in the IVD(R) and Medi-Cal(R) brands and rights in the Techni-Cal(R) brand in the United States and Canada, to Royal Canin for $82.5 million.

"These brands should be well-positioned for future growth with Royal Canin," said Richard G. Wolford, Del Monte chairman and CEO.

"They are not, however, a strategic fit with the plans we have defined and are implementing with our core pet portfolio. We expect that our core pet products business will play a key role in Del Monte's future growth and, to date, we are quite pleased with the progress we are realizing with this business."

DLM Foods Canada Corp. will manufacture certain products for Royal Canin during a transition period after the sale. Del Monte will also perform certain transition services for Royal Canin during agreed-upon post-closing periods. Under the sale agreement, the IVD brand will be sold to Royal Canin U.S.A. and the Medi-Cal and Techni-Cal brands will be sold to Royal Canin Canada.

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