Company History

Monterey Gourmet Foods was launched as the Monterey Pasta Company, a 400 square foot storefront on Lighthouse Avenue in Monterey, California in 1989. The Company produced small quantities of gourmet pastas and sauces using food processors and hand operated pasta makers. It sold its hand-made products to local grocery stores and restaurants on the Monterey Peninsula.

Founders
The founders started their small, fresh pasta company in response to the public's growing interest in healthy gourmet foods. Consumers were increasingly excited about fresh pasta given its superior quality and nutritional value, as well as its ease of preparation. The founders were dedicated to incorporating exciting, non-traditional ingredients into this highly traditional product. Local customers often stopped by the storefront, delivering ingredients such as fresh crab, with requests for custom made raviolis.

First Major Grocery Account
The Company soon acquired its first major grocery account and began to expand to accommodate demand. In 1993, the Company completed its initial public offering. Its stock is traded on the NASDAQ National Market under the symbol "PSTA". In 1994, the Company opened a 10,000 square-foot production facility in Salinas, California (Monterey County) utilizing state-of-the-art packaging techniques to preserve flavor and extend product shelf-life.

Future
Monterey Gourmet Foods products are now found in more than 65 grocery and club store chains with over 6,600 locations. Grocery chain customers include Safeway, Raley's, Albertson's and Kroger. The Company has a long relationship with Costco in the US, and is in national distribution with Sam's Club, a division of Wal-Mart. Additionally, Monterey Gourmet Foods has international distribution in Canada, Japan, Korea, Mexico and Taiwan. To keep pace with this growth, the production and headquarters facility has continued to expand, and now occupies more than 130,000 square feet at two locations, employing over 350 people.

Strategy
Monterey Gourmet Foods pursues a strategy of sustainable growth through selective market expansion, maintenance of its existing product lines and the introduction of new products. The Company is focused on the establishment of a satisfying work environment where everyone is recognized as being equally responsible for the Company's success. The Company is also committed to providing a superior level of customer service, and uncompromising standards of quality in its products.