• July 1, 2008

The $363 million agreement is for all of the company's seafood business to be sold to South Korea food group Dongwon.

The divestiture includes the sale of Del Monte's manufacturing capabilities in American Samoa; Manta, Ecuador; and certain manufacturing assets associated with StarKist seafood located in Terminal Island, Calif., and Guayaquil, Ecuador.

In fiscal 2008, the seafood business generated approximately $560 million of net sales and contributed approximately $0.12 (excludes impact from G&A overhead, which will remain with Del Monte after the transaction) to earnings per share on a stand-alone basis, per Del Monte.

--Nina M. Lentini