Fresh Del Monte Acquires Del Monte Foods Assets for $285M
Fresh Del Monte announced that it has been named the successful bidder to acquire select assets of California-based Del Monte Foods Corporation for a purchase price of $285M, plus assumption of certain liabilities-through a court-supervised sale under Section 363 of the U.S. Bankruptcy Code. The transaction remains subject to court approval and applicable regulatory clearances, including Hart-Scott-Rodino clearance. The sale hearing is scheduled for January 28, 2026, with closing expected by the end of the first quarter of 2026, subject to necessary approvals. Under the bid, Fresh Del Monte would acquire: prepared and packaged foods businesses comprising 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, the Del Monte refrigerated fruit brand, and the Joyba beverage brand. An operational footprint including selected U.S. facilities in Texas, Illinois, Wisconsin, and Washington, two facilities in Mexico, and one operation in Venezuela. Material customer and supplier contracts and inventory at closing to support uninterrupted service. Global ownership of the Del Monte brand, subject to existing licensing arrangements across different regions and categories, including all U.S. rights to the Del Monte, S&W, Contadina, and Joyba trademarks, as well as certain operating assets and employees in the United States, Mexico, and Venezuela. Excluded from the transaction are the canned fruit, and other ambient packaged fruit and fruit sauce products for the U.S., Puerto Rico and Mexico markets, under the Del Monte and S&W brands, along with physical assets associated with these businesses in those countries, as well as the broth and stock businesses under the College Inn and Kitchen Basics brands. Following closing, Fresh Del Monte plans to steward the acquired brands through a dedicated business unit, ensuring continuity for retailers, foodservice partners, suppliers, and consumers, with no immediate changes expected to products on shelf. Fresh Del Monte intends to finance the acquisition through a combination of cash on hand and availability under its revolving credit facility.
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Del Monte Foods Reaches Asset Purchase Agreements, Ensuring Business Continuity
- Asset Purchase Agreements: Del Monte Foods has reached asset purchase agreements with three successful bidders covering its Vegetable, Fruit, Tomato, and Broth & Stock businesses, ensuring the continuity of its assets and operations under new ownership, demonstrating the enduring value of its brands.
- Court-Supervised Auction: The transactions are part of a court-supervised auction process and are expected to receive approval from the U.S. Bankruptcy Court for the District of New Jersey on January 28, 2026, with ownership transfer anticipated by the end of Q1 2026 if all conditions are met.
- Strategic Operational Support: CEO Greg Longstreet stated that these transactions create opportunities for the brands and businesses to thrive, with Del Monte Foods committed to supporting its team members, customers, and vendors while delivering high-quality food products.
- Ongoing Customer Service: Throughout the asset transition process, Del Monte Foods will continue to serve customers and fulfill orders, ensuring that its beloved brands remain healthy, delicious, and convenient.
Del Monte Foods Reaches Asset Purchase Agreements Across Multiple Business Segments
- Asset Purchase Agreements: Del Monte Foods has reached asset purchase agreements with three successful bidders covering its vegetable, tomato, and refrigerated fruit businesses, expected to provide a clear path forward for the company’s assets and operations under new ownership.
- Brand Value Realization: The transactions include the sale of assets related to well-known brands such as Del Monte® and S&W® to Fresh Del Monte Produce Inc., demonstrating the enduring value of Del Monte's brands and enhancing its competitive position in the market.
- Court Approval Process: All transactions are subject to approval by the U.S. Bankruptcy Court in New Jersey, with a hearing scheduled for January 28, 2026, and if approved, the transactions are expected to close by the end of Q1 2026, ensuring a smooth transition of operations.
- Commitment to Ongoing Operations: Despite the asset sale process, Del Monte Foods continues to serve customers and fulfill orders, committing to maintain high-quality food products and support for team members and suppliers during the transition period.
