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DEL MONTE FOODS COMPANY (Exact Name of Registrant As Specified in Its Charter) Delaware 13-3542950 (State Or Other Jurisdiction of (I.R.S

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DEL MONTE FOODS COMPANY (Exact Name of Registrant As Specified in Its Charter) Delaware 13-3542950 (State Or Other Jurisdiction of (I.R.S UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) È ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 27, 2008 OR ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-14335 DEL MONTE FOODS COMPANY (Exact name of registrant as specified in its charter) Delaware 13-3542950 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) One Market @ The Landmark, San Francisco, California 94105 (Address of Principal Executive Offices including Zip Code) (415) 247-3000 (Registrant’s Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered Common Stock, par value $0.01 New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes È No ‘ Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ‘ No È Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes È No ‘ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ‘ Indicate by check mark if the Registrant is a large accelerated filer, an accelerated filer or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. Large accelerated filer È Accelerated filer ‘ Non-accelerated filer ‘ Smaller reporting company ‘ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act. Yes ‘ No È The aggregate market value of the common equity held by non-affiliates of the Registrant on October 26, 2007 was $2,115,985,000 based on the number of shares held by non-affiliates of the Registrant and the reported last sale price of common stock on October 26, 2007 ($10.49), which was the last business day of the Registrant’s most recently completed second fiscal quarter. This calculation does not reflect a determination that persons are affiliates for any other purposes. The Registrant does not have non-voting common stock outstanding. The number of shares outstanding of Common Stock, par value $0.01, as of close of business on June 18, 2008 was 197,389,766. DOCUMENTS INCORPORATED BY REFERENCE The Registrant has incorporated by reference in Part III of this report on Form 10-K portions of its definitive Proxy Statement for the 2008 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission within 120 days after the end of the Registrant’s fiscal year. DEL MONTE FOODS COMPANY For the Fiscal Year Ended April 27, 2008 TABLE OF CONTENTS Page PART I Item 1. Business ............................................................ 3 Executive Officers of the Registrant ...................................... 15 Item 1A. Risk Factors ......................................................... 17 Item 1B. Unresolved Staff Comments ............................................ 32 Item 2. Properties ........................................................... 32 Item 3. Legal Proceedings .................................................... 34 Item 4. Submission of Matters to a Vote of Security Holders ......................... 35 PART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities ........................................ 36 Item 6. Selected Financial Data ................................................ 38 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ........................................................ 40 Item 7A. Quantitative and Qualitative Disclosures about Market Risk ................... 63 Item 8. Financial Statements and Supplementary Data .............................. 67 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure ........................................................ 115 Item 9A. Controls and Procedures ............................................... 115 Item 9B. Other Information .................................................... 116 PART III Item 10. Directors, Executive Officers and Corporate Governance ..................... 117 Item 11. Executive Compensation ............................................... 117 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters ................................................ 117 Item 13. Certain Relationships and Related Transactions, and Director Independence ...... 117 Item 14. Principal Accounting Fees and Services ................................... 117 PART IV Item 15. Exhibits, Financial Statement Schedules .................................. 118 Signatures ................................................................... 119 Power of Attorney ............................................................. 120 Exhibit Index ................................................................. 121 [THIS PAGE INTENTIONALLY LEFT BLANK] Special Note Regarding Forward Looking Statements This annual report on Form 10-K, including the sections entitled “Item 1. Business,” “Item 1A. Risk Factors” and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934. Statements that are not historical facts, including statements about our beliefs or expectations, are forward-looking statements. These statements are based on our plans, estimates and projections at the time we make the statements, and you should not place undue reliance on them. In some cases, you can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties. We caution 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 annual report on Form 10-K include statements related to future financial operating results or related matters including: the expected cost environment; expected pricing actions and the impact of those actions; our strategic plan and related expected actions, outcomes and opportunities; effects of our transformations plan; cost reduction efforts; expected pension and other benefits expense; expected tax rates; expected cash flows; and statements relating to our long-term potential. Factors that could cause actual results to differ materially from those described in this annual report on Form 10-K include, among others: cost and availability of inputs, commodities, ingredients and other raw materials, including without limitation, energy (including natural gas), fuel, packaging, tuna, grains (including corn), and meat by-products (including fats and oils); our ability to increase prices and manage the price gap between our products and competing private label and branded products; our ability to reduce costs; the accuracy of our assumptions regarding costs; logistics and other transportation-related costs; our debt levels and ability to service and reduce our debt and comply with covenants; timely launch and market acceptance of new products; competition, including pricing and promotional spending levels by competitors; effectiveness of marketing and trade promotion programs; reduced sales, disruptions, costs or other charges to earnings or expenses that may be generated by our efforts to centralize all marketing functions or by our exploration of strategic alternatives for our StarKist seafood business; transformative plans intended to improve the performance and market share of our businesses; changing consumer and pet preferences; distribution; the loss of significant customers or a substantial reduction in orders from these customers or the bankruptcy of any such customer; industry trends, including changes in buying, inventory and other business practices by customers; interest rate fluctuations; hedging practices; weather conditions; crop yields; natural disasters; contaminated ingredients; recalls; product liability claims and other litigation; changes in U.S., foreign or local tax laws and effective rates; reliance on certain third parties, including co-packers, our broker, and third-party distribution centers or managers; changes in, or the failure or inability to comply with, U.S., foreign and local governmental
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