NOTE 2. ACQUISITIONS


South America Acquisition

On August 28, 1998, Del Monte reacquired rights to the Del Monte brand in South America from Nabisco Inc. and purchased Nabisco’s canned vegetable and tomato business in Venezuela, including a food processing plant, for a cash purchase price of $31.8 (the “South America Acquisition”). The South America Acquisition was accounted for using the purchase method of accounting. In connection with this acquisition, approximately $0.9 of indirect acquisition-related expenses were incurred. Nabisco had retained ownership of the Del Monte brand in South America and the Del Monte business in Venezuela when it sold other Del Monte businesses in 1990. Intangible assets recorded in this acquisition totaled $28.4.


Contadina Acquisition

On December 19, 1997, Del Monte acquired the Contadina canned tomato business, including the Contadina trademark worldwide, capital assets and inventory (the “Contadina Acquisition”) from Nestlé USA, Inc. and Contadina Services, Inc. for a total purchase price of $194.9, comprised of a base price of $176.5 and an estimated net working capital adjustment of $18.4. The consideration was paid solely in cash. The Contadina Acquisition was accounted for using the purchase method of accounting. In connection with the Contadina Acquisition, approximately $6.9 of indirect acquisition-related expenses were incurred. Intangible assets recorded in this acquisition totaled $16.9.