-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JOPJT0dbHPs8qDT1Pf10Cvzj29gfBEX9hCvyUYngfELcGGO/Yi5UUKKJksnN9PYx Y2+TbB0SSyI8g0nzpz7ACA== 0000905718-04-000245.txt : 20040914 0000905718-04-000245.hdr.sgml : 20040914 20040914120557 ACCESSION NUMBER: 0000905718-04-000245 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040914 DATE AS OF CHANGE: 20040914 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DEL MONTE FOODS CO CENTRAL INDEX KEY: 0000866873 STANDARD INDUSTRIAL CLASSIFICATION: CANNED, FRUITS, VEG & PRESERVES, JAMS & JELLIES [2033] IRS NUMBER: 133542950 STATE OF INCORPORATION: DE FISCAL YEAR END: 0427 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-57041 FILM NUMBER: 041028955 BUSINESS ADDRESS: STREET 1: ONE MARKET @ THE LANDMARK STREET 2: C/O DEL MONTE CORP CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 415-247-3000 FORMER COMPANY: FORMER CONFORMED NAME: DMPF HOLDINGS CORP DATE OF NAME CHANGE: 19600201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ATLANTIC INVESTMENT MANAGEMENT INC CENTRAL INDEX KEY: 0001063296 IRS NUMBER: 133482911 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 750 LEXINGTON AVENUE STREET 2: 16TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2126886644 MAIL ADDRESS: STREET 1: 750 LEXINGTON AVENUE STREET 2: 16TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D 1 delmon13dsept04.txt SC13D SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. )* DEL MONTE FOODS COMPANY - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 24522P103 - -------------------------------------------------------------------------------- (CUSIP Number) with a copy to: Alexander J. Roepers Allen B. Levithan Atlantic Investment Management, Inc. LOWENSTEIN SANDLER PC 666 Fifth Avenue 65 Livingston Avenue New York, New York 10103 Roseland, New Jersey 07068 (212) 484-5050 (973) 597-2500 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 13, 2004 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule l3G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), (f) or (g), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule l3d-7(b) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP NO. 24522P103 - -------------------------------------------------------------------------------- 1) Names of Reporting Persons. I.R.S. Identification Nos. of Above Persons (entities only): Atlantic Investment Management, Inc. - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions): (a) (b) - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Source of Funds (See Instructions): AF - -------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e): Not Applicable - -------------------------------------------------------------------------------- 6) Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------- Number of 7) Sole Voting Power: 13,104,900* ---------------------------------------- Shares Beneficially 8) Shared Voting Power: 0 ---------------------------------------- Owned by Each Reporting 9) Sole Dispositive Power: 13,104,900* ---------------------------------------- Person With: 10) Shared Dispositive Power: 0 ---------------------------------------- - -------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person: 13,104,900* - -------------------------------------------------------------------------------- 12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions): Not Applicable - -------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11): 6.2%* - -------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions): IA - -------------------------------------------------------------------------------- * Includes: (i) 2,665,240 shares (1.3%) of the Issuer's common stock, par value $0.01 per share ("Shares"), beneficially owned by AJR International (BVI), Inc., a British Virgin Islands company, (ii) 1,408,490 Shares (0.7%) beneficially owned by Quest Capital Partners, L.P., a Delaware limited partnership, (iii) 3,661,360 Shares (1.7%) beneficially owned by Cambrian Fund (BVI), Ltd., a British Virgin Islands company, (iv) 1,591,450 Shares (0.8%) beneficially owned by Cambrian Partners, L.P., a Delaware limited partnership and (v) 3,778,360 Shares (1.8%) held in several Managed Accounts ("Managed Accounts"). The Reporting Person, serving as the investment advisor of the foregoing parties and the Managed Accounts, has sole voting and dispositive power over all Shares beneficially owned by such parties or held in the Managed Accounts. See Items 2 and 5 for additional details. Item 1. Security and Issuer ------------------- This statement relates to the common stock, par value $0.01 per share (the "Shares"), of Del Monte Foods Company (the "Issuer"). The Issuer has principal executive offices located at One Market at The Landmark, San Francisco, California 94105. Item 2. Identity and Background ----------------------- (a) This statement is filed by Atlantic Investment Management, Inc., a Delaware corporation (the "Reporting Person"), with respect to 13,104,900 Shares over which the Reporting Person has sole dispositive and voting power by reason of serving as the investment advisor to (i) AJR International (BVI) Inc., a British Virgin Islands company ("AJR"), (ii) Quest Capital Partners, L.P., a Delaware limited partnership ("Quest"), (iii) Cambrian Fund (BVI), Ltd., a British Virgin Islands company ("Cambrian Fund"), (iv) Cambrian Partners, L.P., a Delaware limited partnership ("Cambrian Partners") and (v) several managed accounts (the "Managed Accounts"). Alexander J. Roepers, the president and sole shareholder of the Reporting Person, also serves as the general partner of Quest and Cambrian Partners. (b) The business address of the Reporting Person and Mr. Roepers is 666 Fifth Avenue, 34th Floor, New York, New York 10103. (c) The principal business of the Reporting Person is that of an investment advisor engaging in the purchase and sale of securities for investment with the objective of capital appreciation on behalf of AJR, Quest, Cambrian Fund, Cambrian Partners and the Managed Accounts. The principal occupation of Mr. Roepers is serving as the president and managing officer of the Reporting Person. (d) Neither the Reporting Person nor Mr. Roepers has, during the past five (5) years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) Neither the Reporting Person nor Mr. Roepers has, during the past five (5) years, been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is now subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Mr. Roepers is a citizen of The Netherlands. Item 3. Source and Amount of Funds or Other Consideration ------------------------------------------------- The Shares purchased by the Reporting Person on behalf of AJR, Quest, Cambrian Fund, Cambrian Partners and the Managed Accounts were purchased with the investment capital of such entities and accounts. The aggregate amount of funds used in making the purchases reported on this Schedule 13D was $137,884,898. Item 4. Purpose of Transaction ---------------------- The Reporting Person acquired, on behalf of AJR, Quest, Cambrian Fund, Cambrian Partners and the Managed Accounts, and continues to hold the Shares reported herein for investment purposes. The Reporting Person intends to evaluate the performance of the Shares as an investment in the ordinary course of business. The Reporting Person pursues an investment objective that seeks capital appreciation. In pursuing this investment objective, the Reporting Person analyzes the operations, capital structure and markets of companies in which the Reporting Person's clients invest, including the Issuer, on a continuous basis through analysis of documentation and discussions with knowledgeable industry and market observers and with representatives of such companies. The Reporting Person will continuously assess the Issuer's business, financial condition, results of operations and prospects, general economic conditions, the securities markets in general and those for the Shares in particular, other developments and other investment opportunities. Depending on such assessments, the Reporting Person may acquire additional Shares or may determine to sell or otherwise dispose of all or some of the Shares presently held by AJR, Quest, Cambrian Fund, Cambrian Partners and the Managed Accounts in the open market or in private transactions. Such actions will depend upon a variety of factors, including, without limitation, current and anticipated future trading prices for the Shares, the financial condition, results of operations and prospects of the Issuer, alternative investment opportunities, general economic, financial market and industry conditions and other factors that the Reporting Person may deem material to its investment decision. The Reporting Person will continue its active discussions with the Issuer's management with respect to (i) actions which might be taken by the management of the Issuer to maximize shareholder value of the Issuer and (ii) improving the Issuer's investor relations. In addition, the Reporting Person may hold discussions with other parties who might engage in shareholder value enhancing activities for the benefit of all of the Issuer's shareholders. There can be no assurance that the Reporting Person will take any of the actions described in the previous sentence. Except as set forth above, the Reporting Person has no present plans or proposals which relate to or would result in any of the transactions required to be described in Item 4 of Schedule 13D. Item 5. Interest in Securities of the Issuer ------------------------------------ (a) Based upon the information contained in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on September 8, 2004, there were issued and outstanding 209,819,401 Shares as of August 31, 2004. (b) The Reporting Person does not directly own any Shares. The Reporting Person has entered into an investment advisory agreement with each of AJR, Quest, Cambrian Fund, Cambrian Partners and the Managed Accounts, pursuant to which the Reporting Person has investment authority with respect to the securities held by such entities or in such accounts. Such power includes the power to dispose of and the power to vote the Shares. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, the Reporting Person is deemed to be the beneficial owner of the Shares held by such entities and accounts. Accordingly, the Reporting Person is deemed the beneficial owner of 13,104,900 Shares, or 6.2% of the outstanding Shares. (c) The following table details the transactions by the Reporting Person, on behalf of AJR, Quest, Cambrian Fund, Cambrian Partners and the Managed Accounts, in the Shares during the past sixty (60) days: Date Quantity Price Type of Transaction ---- -------- ----- ------------------- 7/16/2004 372,000 $10.5363 Open Market Purchase 7/19/2004 550,000 $10.4987 Open Market Purchase 7/20/2004 645,800 $10.4000 Open Market Purchase 7/21/2004 118,000 $10.3985 Open Market Purchase 7/22/2004 125,500 $10.3236 Open Market Purchase 7/23/2004 389,000 $10.1652 Open Market Purchase 7/26/2004 254,000 $10.1039 Open Market Purchase 7/27/2004 276,400 $10.1793 Open Market Purchase 7/28/2004 286,300 $10.2050 Open Market Purchase 7/29/2004 384,100 $10.4852 Open Market Purchase 7/30/2004 520,000 $10.4709 Open Market Purchase 8/02/2004 96,200 $10.5027 Open Market Purchase 8/03/2004 108,600 $10.3335 Open Market Purchase 8/04/2004 382,900 $10.3363 Open Market Purchase 8/05/2004 196,800 $10.3484 Open Market Purchase 8/06/2004 175,000 $10.2731 Open Market Purchase 8/09/2004 125,300 $10.2632 Open Market Purchase 8/10/2004 139,900 $10.2841 Open Market Purchase 8/11/2004 150,000 $10.2628 Open Market Purchase 8/12/2004 50,000 $10.2500 Open Market Purchase 8/13/2004 250,000 $10.1698 Open Market Purchase 8/16/2004 352,000 $10.3022 Open Market Purchase 8/17/2004 58,800 $10.3065 Open Market Purchase 8/19/2004 65,000 $10.5288 Open Market Purchase 8/23/2004 12,000 $10.8100 Open Market Purchase 8/24/2004 55,700 $10.7415 Open Market Purchase 8/25/2004 27,300 $10.6561 Open Market Purchase 8/27/2004 818,400 $10.3910 Open Market Purchase 8/30/2004 100,000 $10.3916 Open Market Purchase 8/31/2004 142,500 $10.4181 Open Market Purchase 9/02/2004 106,200 $10.7915 Open Market Purchase 9/03/2004 100,000 $10.8475 Open Market Purchase 9/07/2004 500,000 $10.8058 Open Market Purchase 9/08/2004 314,000 $10.5478 Open Market Purchase 9/09/2004 100,000 $10.6000 Open Market Purchase 9/10/2004 1,000,000 $10.7500 Open Market Purchase 9/13/2004 3,000,000 $10.7500 Open Market Purchase Except for the transactions listed above, neither the Reporting Person, any entity for which the Reporting Person serves as investment advisor, nor any person or entity controlled by the Reporting Person, has traded Shares during the past sixty (60) days. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer ---------------------------------------------------------------------- Not Applicable Item 7. Material to be filed as exhibits -------------------------------- Not Applicable SIGNATURE --------- After reasonable inquiry and to the best of the undersigned's knowledge and belief, the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. September 13, 2004 ATLANTIC INVESTMENT MANAGEMENT, INC. By: /s/ Alexander J. Roepers ----------------------------------- Alexander J. Roepers, President ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). -----END PRIVACY-ENHANCED MESSAGE-----