Del Monte Foods continues asset liquidation as part of Chapter 11 process: three new sales announced
Del Monte Foods has received court approval for three asset purchase agreements for substantially all of its assets and business operations as going-concern businesses.
The first transaction valued at $285 million comprises the sale to Fresh Del Monte Produce Inc., the company's vegetable, tomato, and refrigerated fruit business assets, including Del Monte® and S&W® packaged vegetable brands, Del Monte®, Contadina®, and Take Root Organics® packaged tomato brands; Del Monte® refrigerated fruit brand, and the JOYBA® beverage brand, together with global ownership of the Del Monte® brand and related intellectual property.
The Fresh Del Monte expects the transaction to close in the first quarter of 2026, subject to approvals.
The second transaction is the sale to B&G Foods, Inc., of all assets in the broth & stock business segment, including College Inn® and Kitchen Basics® brands. Finally, the third authorized transaction is the sale to Pacific Coast Producers of the shelf-stable fruit business assets (other than production assets), including the rights and licenses to use the Del Monte® and S&W® brands for shelf-stable packaged ambient fruit and ambient fruit sauces, in the United States, Puerto Rico, and Mexico.
An important milestone for Del Monte Foods
Greg Longstreet, Chief Executive Officer at Del Monte Foods, said the company's leadership is pleased to have reached what he called "an important milestone."
"We have already begun productive discussions with the buyers to support a smooth transition of operations for our team members, customers, vendors, and partners, and continue to focus on delivering high-quality food products through closing," he said.
The Sale Transactions, which are expected to close in the first quarter of 2026, subject to customary closing conditions, were determined to represent the highest or otherwise best offers for Del Monte Foods' assets and businesses following a competitive court-supervised auction process.
*All images are referential and courtesy of Del Monte Foods.
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