This excerpt taken from the DLM 10-K filed Jul 11, 2006.
on December 20, 2002 and (ii) for periods after the 2002 Merger, a wholly-owned subsidiary of DMFC, which represents the combined operations of pre-merger DMC and SKF. See below for further discussion of the 2002 Merger.
Del Montes fiscal year ends on the Sunday closest to April 30, and its fiscal quarters typically end on the Sunday closest to the end of July, October and January. As used throughout this Form 10-K, fiscal 2007 means Del Montes fiscal year ending April 29, 2007; fiscal 2006 means Del Montes fiscal year ending April 30, 2006, fiscal 2005 means Del Montes fiscal year ending May 1, 2005; fiscal 2004 means Del Montes fiscal year ended May 2, 2004; and fiscal 2003 means Del Montes fiscal year ended April 27, 2003.
On December 20, 2002, DMFC completed the acquisition of certain businesses from H. J. Heinz Company (Heinz), including Heinzs U.S. and Canadian pet food and pet snacks, North American tuna, U.S. retail private label soup, and U.S. infant feeding businesses (the 2002 Acquired Businesses). Del Monte acquired these businesses through the merger (the 2002 Merger) of DMC, a subsidiary of DMFC, with and into SKF, previously a wholly-owned subsidiary of Heinz. Prior to the 2002 Merger, Heinz transferred the 2002 Acquired Businesses to SKF and distributed all of the issued and outstanding shares of SKF common stock on a pro rata basis (the Spin-off) to the holders of record of the outstanding common stock of Heinz on December 19, 2002. The 2002 Merger has been accounted for as a reverse acquisition in which SKF is treated as the acquirer and DMC, the acquiree, primarily because Heinz shareholders owned a majority of DMFCs common stock upon completion of the 2002 Merger. As a result, the historical financial statements of SKF, which reflect the operations of the 2002 Acquired Businesses while under the management of Heinz, became the historical financial statements of Del Monte as of the completion of the 2002 Merger. Therefore, any financial information and numerical data provided for fiscal years prior to 2003 reflect the operations of SKF only and does not reflect the pre-Merger operations of Del Monte for these periods. Any financial information and numerical data provided for fiscal 2003 reflects the operations of SKF for the period from May 2, 2002 to December 20, 2002 and reflects the combined operations of SKF and the existing Del Monte businesses for the period from December 21, 2002 to April 27, 2003.
The results of operations of all periods presented have been reclassified to reflect discontinued operations related to the sale of our private label soup and infant feeding businesses. See Item 1. Business History of Del Monte Foods Company for a description of the sale.