Del Monte Foods files for bankruptcy as 139-year-old food icon seeks sale
The company has secured $912.5 million in financing to support itself through the proceedings, it said, adding that it intends to remain open and continue operations throughout the bankruptcy.
The 139-year old company hosts names like canned fruits and vegetables brand Del Monte, College Inn, under which it sells broth and stocks, and tea brands like Joyba.
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Del Monte, a 135-year-old company, has secured $912.5 million in financing to support itself through the proceedings.
AP
It listed estimated assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the New Jersey bankruptcy court, while the number of creditors is estimated between 10,000 and 25,000.
'This is a strategic step forward for Del Monte Foods. After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods,' CEO Greg Longstreet said.
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Certain of its non-US subsidiaries are not included in the Chapter 11 proceedings and continue to operate as usual, Del Monte Foods said.
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138-year-old grocery store staple files for bankruptcy
Del Monte Foods, the 138-year-old company best known for its canned fruits and vegetables, has filed for bankruptcy and is looking for a buyer. Late Tuesday, the company announced it was voluntarily entering Chapter 11 and is going through a sale process for all of its assets. Among the company's product lines are a number of well-known kitchen staples, including College Inn broths and Contadina canned tomatoes, as well as its flagship Del Monte brand. 'After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods,' said President and CEO Greg Longstreet in a statement. Del Monte said it secured $912.5 million in new funding that will allow the company to remain afloat during the sale process and will keep the company operating as normal as it enters the peak canning season. The company listed liabilities estimated between $1 billion and $10 billion, according to court documents. 'With an improved capital structure, enhanced financial position and new ownership, we will be better positioned for long-term success,' added Longstreet. He said that the company has 'faced challenges intensified by a dynamic macroeconomic environment,' notably consumers cutting back on their spending and a growing shift toward spending on private labels. Del Monte 'says that consumer demand has declined, causing it to incur increased costs related to surplus inventory that it has had to warehouse and attempt to move off shelves with increased promotional spending,' according to Sarah Foss, global head of legal and restructuring at Debtwire. 'Consumer preferences have shifted away from preservative-laden canned food in favor of healthier alternatives.' Del Monte got its start in 1886 and built its famous cannery in San Francisco in 1907. The company claims that it operated the largest fruit and vegetable cannery in the world by 1909. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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an hour ago
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Fresh Del Monte Produce Inc. Clarifies It Is Not Affiliated with Del Monte Foods Inc.
A fully independent company, Fresh Del Monte is unaffected by the recent legal and financial matters involving Del Monte Foods Inc. CORAL GABLES, Fla., July 03, 2025--(BUSINESS WIRE)--Fresh Del Monte Produce Inc. (NYSE: FDP) is a fully independent, publicly traded company with no financial or operational affiliation with Del Monte Foods Inc., a separate entity currently involved in litigation and bankruptcy proceedings. The two companies are entirely separate entities, with no shared ownership, governance, or operations. Del Monte Foods Inc. is a privately held U.S. company owned by a parent organization based in Singapore. Fresh Del Monte Produce Inc.'s financial or operational performance is not impacted by that separate, unaffiliated company's announced legal or financial proceedings. While both businesses share rights to the Del Monte® name through historical licensing arrangements, they operate under distinct ownership and serve different geographic markets. Fresh Del Monte continues to operate with full stability and focus. The company remains financially strong, strategically aligned, and committed to delivering long-term value. It will report second quarter 2025 results during its scheduled earnings call on Wednesday, July 30, 2025. Fresh Del Monte is a global leader in fresh and fresh-cut produce: Headquartered in Coral Gables, FL, with operations in over 90 countries. The global leader in pineapple innovation. Owner of the Del Monte® brand for prepared food products in Europe, Africa, and the Middle East. Del Monte Foods Inc. — a different company with no affiliation to Fresh Del Monte — holds the rights to the Del Monte® brand for prepared food products in the U.S. It does not have rights to fresh or fresh-cut fruit. Customers, suppliers, and partners can remain confident in the continuity of Fresh Del Monte's operations and its commitment to delivering high-quality, Del Monte®-branded products, services, and trusted support. For more information about the company's global operations and financial performance, please visit the Investor Relations page. ABOUT FRESH DEL MONTE Fresh Del Monte Produce Inc. is one of the world's leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa, and the Middle East. Fresh Del Monte Produce Inc. markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN® brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte Produce Inc. is the first global marketer of fruits and vegetables to commit to the "Science Based Targets" initiative. In 2022, 2023, and 2024, Fresh Del Monte Produce was ranked as one of "America's Most Trusted Companies" by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. The company was also named a Humankind 100 Company for two consecutive years by Humankind Investments, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte has also been awarded the SEAL Business Sustainability Awards four times in the last five years (2021, 2023, 2024, and 2025). Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP. View source version on Contacts Media Contact: Claudia PouVice President, Global Head of Corporate Communicationscommunications@ Investor Relations Contact: Christine CannellaVice President, Investor Relationsccannella@
Business Wire
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Fresh Del Monte Produce Inc. Clarifies It Is Not Affiliated with Del Monte Foods Inc.
CORAL GABLES, Fla.--(BUSINESS WIRE)-- Fresh Del Monte Produce Inc. (NYSE: FDP) is a fully independent, publicly traded company with no financial or operational affiliation with Del Monte Foods Inc., a separate entity currently involved in litigation and bankruptcy proceedings. The two companies are entirely separate entities, with no shared ownership, governance, or operations. Del Monte Foods Inc. is a privately held U.S. company owned by a parent organization based in Singapore. Fresh Del Monte Produce Inc.'s financial or operational performance is not impacted by that separate, unaffiliated company's announced legal or financial proceedings. While both businesses share rights to the Del Monte® name through historical licensing arrangements, they operate under distinct ownership and serve different geographic markets. Fresh Del Monte continues to operate with full stability and focus. The company remains financially strong, strategically aligned, and committed to delivering long-term value. It will report second quarter 2025 results during its scheduled earnings call on Wednesday, July 30, 2025. Fresh Del Monte is a global leader in fresh and fresh-cut produce: Headquartered in Coral Gables, FL, with operations in over 90 countries. The global leader in pineapple innovation. Owner of the Del Monte® brand for prepared food products in Europe, Africa, and the Middle East. Del Monte Foods Inc. — a different company with no affiliation to Fresh Del Monte — holds the rights to the Del Monte® brand for prepared food products in the U.S. It does not have rights to fresh or fresh-cut fruit. Customers, suppliers, and partners can remain confident in the continuity of Fresh Del Monte's operations and its commitment to delivering high-quality, Del Monte®-branded products, services, and trusted support. For more information about the company's global operations and financial performance, please visit the Investor Relations page. Fresh Del Monte Produce Inc. is one of the world's leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa, and the Middle East. Fresh Del Monte Produce Inc. markets its products worldwide under the DEL MONTE ® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN ® brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte Produce Inc. is the first global marketer of fruits and vegetables to commit to the 'Science Based Targets' initiative. In 2022, 2023, and 2024, Fresh Del Monte Produce was ranked as one of 'America's Most Trusted Companies' by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. The company was also named a Humankind 100 Company for two consecutive years by Humankind Investments, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte has also been awarded the SEAL Business Sustainability Awards four times in the last five years (2021, 2023, 2024, and 2025). Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP.
