Del Monte Foods receives court approval for asset sales

Del Monte Foods Corporation II Inc. received court approval for three asset purchase agreements to sell substantially all of its business operations as part of its Chapter 11 bankruptcy process, according to a company statement.

The transactions involve the sale of different business segments to three separate buyers. Fresh Del Monte Produce Inc. (NYSE: FDP) will acquire the 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, along with global ownership of the Del Monte brand and related intellectual property.

B&G Foods, Inc. (NYSE: BGS) will purchase all assets in the broth and stock business segment, including College Inn and Kitchen Basics brands. Pacific Coast Producers will acquire the shelf-stable fruit business assets, including rights and licenses to use the Del Monte and S&W brands for shelf-stable packaged fruit and fruit sauces in the United States, Puerto Rico, and Mexico.

"We are pleased to have reached this important milestone on our path toward securing the future of Del Monte Foods' beloved brands and businesses under new ownership," said Greg Longstreet, Chief Executive Officer.

The transactions are expected to close in the first quarter of 2026, subject to customary closing conditions. The sales were determined through a competitive court-supervised auction process and represent what the company characterized as the highest or otherwise best offers for its assets and businesses.

Del Monte Foods has operated for nearly 140 years as a producer, distributor, and marketer of packaged food products. The company stated it remains focused on maintaining service continuity for customers and partners through the transaction closings.

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