By Gary Symons
TLL Editor in Chief
The venerable Del Monte Foods brand will live on, but the company itself has been sold off and split up between three different bidders.
Founded nearly 140 years ago, Del Monte Foods is among the world’s oldest food and beverage companies, and describes itself as the original plant-based food company.
Del Monte owns a wide portfolio of food and beverage brandes, including Del Monte, Contadina, College Inn, Kitchen Basics, JOYBA, Take Root Organics and S&W.
While Del Monte Foods Corporation II Inc. is a leading global producer and distributor of packaged food products, it has fallen on hard times in recent years. As a result, the company went into a Chapter 11 bankruptcy process, and its assets were put into a court-supervised auction process.
The Del Monte Foods entities being sold through the Chapter 11 process are the U.S.-based indirect subsidiaries of Del Monte Pacific Limited, and are not affiliated with certain other Del Monte companies around the world, including Fresh Del Monte Produce Inc., Del Monte Canada, Del Monte Asia Pte. Ltd., Conagra/Productos Del Monte, or Del Monte Panamerican.
The court and the company have now named the three bidders that will take over the company’s assets. Subsequent to the auction, the company also negotiated the asset purchase agreements with the three parties for substantially all of its assets and business operations.
The three sales agreements include:
- The sale to Fresh Del Monte Produce Inc. (NYSE: FDP), of 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, together with global ownership of the Del Monte brand and related intellectual property, subject to existing licensing arrangements;
- The sale to B&G Foods, Inc. (NYSE: BGS), of all assets in the “Broth & Stock” business segment, including College Inn and Kitchen Basics brands; and
- The sale to Pacific Coast Producers of the shelf-stable fruit business assets (other than production assets), including the 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 (including Puerto Rico) and Mexico.
The company said in a statement that the sale transactions “are expected to provide Del Monte Foods with a clear path forward for the Company’s assets and business operations to continue under the new ownership of three well-regarded strategic operators, and represent the highest or otherwise best offers for the Company’s assets and businesses.”
“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. “These transactions will create an opportunity for our beloved brands and businesses to thrive under the ownership of three of the leading companies in the food industry.”
The company stressed that Del Monte Foods continues to serve its customers and fulfill orders across its portfolio of brands. Longstreet says Del Monte remains committed to supporting its team members, growers, vendors, and suppliers, while delivering high-quality food products to consumers.
“We are committed to working closely with all parties to support a smooth transition of operations and are grateful to our team members, customers, and vendor partners for their steadfast commitment and meaningful contributions to Del Monte Foods during this pivotal time,” Longstreet said.
The successful bidders were selected after consideration of all alternative proposals following a comprehensive sale process. That process isn’t quite over yet, as the sales transactions are subject to the approval of the U.S. Bankruptcy Court for the District of New Jersey at a hearing currently scheduled for January 28, 2026, and customary closing conditions.
Following court approval, the company says it will work with the buyers to transition ownership of the businesses, with the closing of the sales expected to close by the end of the first quarter of 2026.
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