US$285mn bid secures group large part of bankrupt Del Monte Foods Corporation II, including assets in US, Mexico, and Venezuela
Fresh Del Monte Produce has been given the green light to acquire various assets that currently belong to California-based Del Monte Foods Corporation II Inc, and its affiliates, for a purchase price of US$285mn, plus assumption of certain liabilities.
The deal, which has been agreed through a court-supervised sale under Section 363 of the US Bankruptcy Code, remains subject to court approval and applicable regulatory clearances.
A sale hearing is scheduled for 28 January, and the transaction is expected to be completed by the end of the first quarter of 2026, subject to necessary approvals.
The landmark agreement brings the Del Monte brand under a single owner for the first time in nearly four decades.
By bringing established ambient brands under one corporate roof alongside its own global fresh produce business, Fresh Del Monte said it expected to strengthen brand consistency, expand consumer reach across more occasions and channels, enhance efficiency, and support long-term value creation.
“Bringing the Del Monte brand back together reflects a long-held conviction of mine,” said Mohammad Abu-Ghazaleh, Fresh Del Monte’s chairman and CEO. “By uniting fresh and shelf-stable food under one strategy, we are honouring the brand’s legacy while supporting it for continued relevance and growth. It allows us to show up more consistently for consumers and to build a stronger, more flexible platform focused on efficiency, innovation, and long-term value creation.”
The transaction offers Fresh Del Monte a chance to carry forward one of the food industry’s oldest and most enduring brands – it is nearly 140 years old—and to pursue a single, globally integrated strategy across different product categories.
Fresh Del Monte is poised to acquire:
* Prepared and packaged foods businesses comprising vegetable, tomato, and refrigerated fruit products, including Del Monte and S&W vegetables, Del Monte, Contadina, and Take Root Organics tomatoes, Del Monte refrigerated fruit, and Joyba beverages.
* An operational footprint including selected US facilities in Texas, Illinois, Wisconsin, and Washington, two facilities in Mexico, and one operation in Venezuela.
* Global ownership of the Del Monte brand, subject to existing licensing arrangements across different regions and categories, including all US rights to the registered trademarks Del Monte, S&W, Contadina, and Joyba, as well as certain operating assets and employees in the US, Mexico, and Venezuela.
Excluded from the transaction are the canned fruit, and other ambient packaged fruit and fruit sauce products for the US, Puerto Rico and Mexico markets, under the Del Monte and S&W brands, along with physical assets associated with these businesses in those countries, and the broth and stock businesses trading under the College Inn and Kitchen Basics brands.
Once the deal is completed, Fresh Del Monte said it 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 and a revolving credit facility.
Rabobank served as exclusive financial advisor to Fresh Del Monte, with Greenberg Traurig and Dickinson Wright acting as legal advisors.
