Fresh Del Monte Acquires Del Monte Foods Assets for $285M

Fresh Del Monte announced that it has been named the successful bidder to acquire select assets of California-based Del Monte Foods Corporation for a purchase price of $285M, plus assumption of certain liabilities-through a court-supervised sale under Section 363 of the U.S. Bankruptcy Code. The transaction remains subject to court approval and applicable regulatory clearances, including Hart-Scott-Rodino clearance. The sale hearing is scheduled for January 28, 2026, with closing expected by the end of the first quarter of 2026, subject to necessary approvals. Under the bid, Fresh Del Monte would acquire: prepared and packaged foods businesses comprising 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, the Del Monte refrigerated fruit brand, and the Joyba beverage brand. An operational footprint including selected U.S. facilities in Texas, Illinois, Wisconsin, and Washington, two facilities in Mexico, and one operation in Venezuela. Material customer and supplier contracts and inventory at closing to support uninterrupted service. Global ownership of the Del Monte brand, subject to existing licensing arrangements across different regions and categories, including all U.S. rights to the Del Monte, S&W, Contadina, and Joyba trademarks, as well as certain operating assets and employees in the United States, Mexico, and Venezuela. Excluded from the transaction are the canned fruit, and other ambient packaged fruit and fruit sauce products for the U.S., Puerto Rico and Mexico markets, under the Del Monte and S&W brands, along with physical assets associated with these businesses in those countries, as well as the broth and stock businesses under the College Inn and Kitchen Basics brands. Following closing, Fresh Del Monte plans to steward the acquired brands through a dedicated business unit, ensuring continuity for retailers, foodservice partners, suppliers, and consumers, with no immediate changes expected to products on shelf. Fresh Del Monte intends to finance the acquisition through a combination of cash on hand and availability under its revolving credit facility.