WALNUT CREEK, Calif. – Del Monte Foods Corporation II Inc. has announced that it has selected three successful bidders in its court-supervised auction process. The Company has negotiated asset purchase agreements (the "Sale Transactions") with the three parties for substantially all of its assets and business operations as going-concern businesses. The Sale Transactions are:
- The sale to Fresh Del Monte Produce Inc., 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., 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 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. 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."
The successful bidders were selected after careful consideration of all alternative proposals following a comprehensive sale process. The Sale Transactions are subject to the approval of the U.S. Bankruptcy Court for the District of New Jersey (the "Court") at a hearing currently scheduled for January 28, 2026, and customary closing conditions. Following Court approval, the Company will work with the buyers to transition ownership of the businesses and/or related assets in connection with the closing of the Sale Transactions, all of which are expected to occur by the end of the first quarter of 2026.
Del Monte Foods continues to serve customers and fulfill orders across its portfolio of beloved brands at this time. The Company remains committed to supporting its team members, growers, vendors, and suppliers, while delivering high-quality food products that are healthy, delicious, and convenient.
