#United States #Walnut Creek #Fresh Del Monte #Del Monte Foods #Contadina

Del Monte Foods Concludes Successful Sales Transactions

Del Monte Foods Corporation, recognized as a prominent name in the food industry, recently announced its successful completion of critical sales transactions encompassing a large part of its business segments. These transactions include the sale of its vegetable, tomato, refrigerated fruit, and broth stock business units. In a carefully strategized move, Del Monte aims to enhance its operational efficiency and future growth prospects through these divestitures.

The major sales transactions involve:

• - Fresh Del Monte Produce Inc. acquiring the Company’s vegetable, tomato, and refrigerated fruit businesses. This includes well-known brands like Del Monte® and SW®, as well as various packaged tomato products such as Contadina® and Take Root Organics®. Notably, Fresh Del Monte will also gain global ownership of the Del Monte® brand, along with the associated intellectual property.
• - BG Foods, Inc. purchasing all the assets from Del Monte's broth stock sector, which includes the popular College Inn® and Kitchen Basics® brands.
• - Pacific Coast Producers taking over the shelf-stable fruit business assets, with rights to use the Del Monte® and SW® brands for ambient fruit products and sauces across the United States, Puerto Rico, and Mexico.

Greg Longstreet, the CEO of Del Monte Foods, expressed optimism regarding these transactions, stating, "This marks an important milestone for Del Monte Foods. The iconic brands and businesses are set for future success under the capable stewardship of three key operators who are well-equipped to drive their operational excellence."

This strategic move not only reflects Del Monte's commitment to delivering high-quality products but also exemplifies its proactive approach in navigating changing market dynamics while focusing on operational strengths. Longstreet thanked team members for their continuous dedication and acknowledged the support of customers and partners during this complex process.

The successful execution of these sale transactions is part of Del Monte Foods' broader strategy to streamline its operations and concentrate on core competencies, potentially leading to improved financial health and positioning the company for sustainable growth in the food sector.

For stakeholders seeking to delve deeper into Del Monte's chapter 11 process or those with inquiries, information is available on their dedicated platform. Investors can reach out to the Company’s claims agent, Stretto, for assistance.

Del Monte Foods has stood the test of time for over 140 years, dedicating itself to nourishing families with natural goodness. As a pioneer in plant-based food production, Del Monte remains committed to innovation, aiming to provide nutritious and delicious meals accessible to consumers. The firm’s portfolio includes several beloved brands, such as Contadina®, College Inn®, and Kitchen Basics®, each resonating with quality and consumer trust.

For further information on Del Monte Foods and their extensive range of products, visit their official website.