Del Monte Foods Secures Court Approval for Major Asset Sales to New Owners
In a significant move solidifying its future in the highly competitive food industry, Del Monte Foods Corporation II Inc. has received court approval for crucial asset purchase agreements spanning all its business segments, including Vegetables, Fruits, Tomatoes, and Broths. This development marks a pivotal point for the company as it looks to transition ownership while ensuring continuity of service for its customers and partners.
The approved sale encompasses three major transactions, allowing Del Monte to divest substantial sections of its operations while retaining the core essence of its brand. Firstly, the agreement with Fresh Del Monte Produce Inc. involves the transfer of the company's vegetable, tomato, and refrigerated fruit business assets. This includes a variety of widely recognized brands such as Del Monte® and SW® packaged vegetables, alongside Del Monte®, Contadina®, and Take Root Organics® tomato products, and the Del Monte® refrigerated fruit brand, along with the globally recognized JOYBA® beverage brand and its associated intellectual properties.
Following this, BG Foods, Inc. is set to acquire Del Monte's entire broth and stock business segment, which prominently features brands like College Inn® and Kitchen Basics®. This sale aligns with BG Foods' strategic goals to expand its product offerings in the broth and stock market, leveraging Del Monte's established brands to cultivate new growth opportunities.
Lastly, Pacific Coast Producers will take over the shelf-stable fruit business assets—notably the rights to use the Del Monte® and SW® brands for packaged ambient fruit and sauces in the U.S. and parts of Mexico. This move allows Pacific Coast Producers to tap into Del Monte's legacy while enhancing its product diversity in the fruit sector.
"We are thrilled to have reached this significant milestone, which secures the future of Del Monte Foods' cherished brands under new ownership, whilst continuing to serve our loyal customer base," stated Greg Longstreet, the Chief Executive Officer of Del Monte Foods. The company's commitment to facilitating a smooth transition for its operations is evident as they engage in discussions with the new buyers.
The transactions, anticipated to finalize in the first quarter of 2026, came after a rigorous competitive auction overseen by the court. They reflect the highest or best offers received for Del Monte's assets, underscoring the value recognized by potential owners in the company's longstanding legacy.
Del Monte Foods, operating under the principles of nourishing families, has a storied history of nearly 140 years. Known for its dedication to plant-based and nutritious food products, the company has continuously evolved to meet consumer demands while adhering to quality standards. The array of beloved brands under Del Monte includes Del Monte®, Contadina®, College Inn®, Kitchen Basics®, JOYBA®, and Take Root Organics®, among others.
As Del Monte Foods embarks on this new chapter, the focus remains squarely on delivering high-quality products. This commitment, combined with the strategic transitions of ownership, positions the company for a promising future. Interested stakeholders seeking further details regarding the company's chapter 11 process can find comprehensive information through their claims agent, Stretto, or via the company's official channels.
In light of these developments, industry watchers are keen to see how these transitions will shape both the Del Monte brand and the broader food market, especially as they continue to innovate and engage with consumers around the world. The path forward seems filled with potential as they welcome new partnerships while remaining committed to their core mission of providing nutritious and delicious food options.
The approved sale encompasses three major transactions, allowing Del Monte to divest substantial sections of its operations while retaining the core essence of its brand. Firstly, the agreement with Fresh Del Monte Produce Inc. involves the transfer of the company's vegetable, tomato, and refrigerated fruit business assets. This includes a variety of widely recognized brands such as Del Monte® and SW® packaged vegetables, alongside Del Monte®, Contadina®, and Take Root Organics® tomato products, and the Del Monte® refrigerated fruit brand, along with the globally recognized JOYBA® beverage brand and its associated intellectual properties.
Following this, BG Foods, Inc. is set to acquire Del Monte's entire broth and stock business segment, which prominently features brands like College Inn® and Kitchen Basics®. This sale aligns with BG Foods' strategic goals to expand its product offerings in the broth and stock market, leveraging Del Monte's established brands to cultivate new growth opportunities.
Lastly, Pacific Coast Producers will take over the shelf-stable fruit business assets—notably the rights to use the Del Monte® and SW® brands for packaged ambient fruit and sauces in the U.S. and parts of Mexico. This move allows Pacific Coast Producers to tap into Del Monte's legacy while enhancing its product diversity in the fruit sector.
"We are thrilled to have reached this significant milestone, which secures the future of Del Monte Foods' cherished brands under new ownership, whilst continuing to serve our loyal customer base," stated Greg Longstreet, the Chief Executive Officer of Del Monte Foods. The company's commitment to facilitating a smooth transition for its operations is evident as they engage in discussions with the new buyers.
The transactions, anticipated to finalize in the first quarter of 2026, came after a rigorous competitive auction overseen by the court. They reflect the highest or best offers received for Del Monte's assets, underscoring the value recognized by potential owners in the company's longstanding legacy.
Del Monte Foods, operating under the principles of nourishing families, has a storied history of nearly 140 years. Known for its dedication to plant-based and nutritious food products, the company has continuously evolved to meet consumer demands while adhering to quality standards. The array of beloved brands under Del Monte includes Del Monte®, Contadina®, College Inn®, Kitchen Basics®, JOYBA®, and Take Root Organics®, among others.
As Del Monte Foods embarks on this new chapter, the focus remains squarely on delivering high-quality products. This commitment, combined with the strategic transitions of ownership, positions the company for a promising future. Interested stakeholders seeking further details regarding the company's chapter 11 process can find comprehensive information through their claims agent, Stretto, or via the company's official channels.
In light of these developments, industry watchers are keen to see how these transitions will shape both the Del Monte brand and the broader food market, especially as they continue to innovate and engage with consumers around the world. The path forward seems filled with potential as they welcome new partnerships while remaining committed to their core mission of providing nutritious and delicious food options.
Topics Consumer Products & Retail）
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