Del Monte Foods selects three buyers in bankruptcy auction

Del Monte Foods Corporation II Inc. announced it has selected three successful bidders in its court-supervised auction process to purchase substantially all of its assets and business operations. The company reached asset purchase agreements across all business segments following a comprehensive sale process.

Fresh Del Monte Produce Inc. (NYSE: FDP) will acquire 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. This transaction includes global ownership of the Del Monte brand and related intellectual property, subject to existing licensing arrangements.

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 ambient fruit and ambient fruit sauces in the United States, Puerto Rico, and Mexico.

"This outcome represents a successful result in our sale process and demonstrates the enduring value of Del Monte Foods' brands and operations," said Greg Longstreet, Chief Executive Officer.

The transactions require approval from the U.S. Bankruptcy Court for the District of New Jersey at a hearing scheduled for January 28, 2026. All transactions are expected to close by the end of the first quarter of 2026, subject to court approval and customary closing conditions.

Del Monte Foods continues to serve customers and fulfill orders across its portfolio during the transition process. The company filed for Chapter 11 bankruptcy protection as part of this restructuring process.

You May Also Be Interested In

• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Waymo wins California approval to expand ride-hailing service
• Mosaic sets pricing for tender offers on up to $1.4B in debt