Del Monte Foods Successfully Completes Sale Transactions Across All Business Segments

Del Monte Foods (NYSE: BGS) announced on March 19, 2026 that it has completed three sale transactions covering substantially all of its assets and going-concern businesses.

Rhea-AI Summary

Del Monte Foods (NYSE: BGS) announced on March 19, 2026 that it has completed three sale transactions covering substantially all of its assets and going-concern businesses. Transactions transfer vegetable, tomato, refrigerated fruit, JOYBA beverage, broth & stock, and shelf-stable fruit assets and related brand rights to three buyers.

The buyers named are Fresh Del Monte Produce (vegetable, tomato, refrigerated fruit, JOYBA, and certain brand IP subject to licenses), B&G Foods (BGS) (broth & stock brands College Inn and Kitchen Basics), and Pacific Coast Producers (shelf-stable fruit brand rights in the U.S., Puerto Rico, and Mexico).

Positive

• Completed divestitures across all business segments
• Brand transfers to strategic operators: Fresh Del Monte Produce, B&G Foods, Pacific Coast Producers
• Going-concern sales preserve business continuity for transferred operations

Negative

• Substantially all assets sold, materially reducing Del Monte Foods' operating portfolio
• Company in Chapter 11, indicating significant corporate restructuring and creditor processes

Argus Mar 20 session

-2.02% close to close Open Argus

Details

News Market Reaction – BGS

On Mar 20, the first trading day after this news, BGS closed 2.02% below the previous close.

Data tracked by StockTitan Argus for the Mar 20 session.

Historical Context

5 past events · Latest: Mar 03

5 events

1. Mar 03

   Earnings results

   24h Move

   +16.2%

   Fourth quarter and full-year 2025 results with 2026 guidance update.

2. Mar 02

   Dividend declaration

   24h Move

   -2.5%

   Regular quarterly dividend of $0.19 per share with high stated yield.

3. Mar 02

   Asset divestiture

   24h Move

   -2.5%

   Sale of Green Giant U.S. frozen product line to Seneca Foods.

4. Feb 24

   Earnings call date

   24h Move

   +0.6%

   Announcement of date and time for Q4 and FY2025 earnings call.

5. Feb 06

   Dividend tax info

   24h Move

   -1.2%

   Tax treatment of 2025 cash distributions as return of capital.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

chapter 11, going-concern

2 terms

chapter 11 regulatory

"Additional information regarding the Company's chapter 11 process is available at"

Chapter 11 is a U.S. bankruptcy process that lets a financially distressed company keep operating while it reorganizes its debts and business plan under court supervision. Think of it as a formal pause that allows the company to renegotiate payments, shed contracts or assets, and seek a path to profitability instead of being liquidated; investors watch it because it can change the value and priority of claims, equity dilution, or the likelihood of recovery.

going-concern financial

"for substantially all of its assets and business operations as going-concern businesses."

An accounting assumption that a business will keep operating into the foreseeable future rather than close or liquidate; auditors may flag doubts about this assumption if there are signs the company might not survive. It matters to investors because a loss of going-concern status can force abrupt changes in how assets and debts are valued, signal a higher chance of bankruptcy, and affect share value—similar to learning a house you planned to live in may need to be sold soon.

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Completed sale transactions include Del Monte Foods' Vegetable, Fruit, Tomato, and Broth & Stock businesses

WALNUT CREEK, Calif., March 19, 2026 /PRNewswire/ -- Del Monte Foods Corporation II Inc. (the "Company" or "Del Monte Foods"), a leading producer, distributor, and marketer of premium quality, packaged food products, today announced that it has successfully completed its three previously announced sale transactions for substantially all of its assets and business operations as going-concern businesses. The completed transactions 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 completion of these transactions marks an important milestone for Del Monte Foods and positions these iconic brands and businesses to move forward under the strong ownership of three strategic operators who are well positioned to support their continued success," said Greg Longstreet, Chief Executive Officer of Del Monte Foods. "On behalf of the Company, I want to thank our team members for their continued commitment to delivering high-quality food products and our customers, vendors, and partners for their support throughout this process."

Additional information regarding the Company's chapter 11 process is available at https://cases.stretto.com/DelMonteFoods. Stakeholders with questions can contact the Company's claims agent, Stretto, by calling (833) 228-5497 (US and Canada toll-free) or +1 (714) 263-3709 (International) or emailing DelMonteInquiries@Stretto.com.

Advisors

Herbert Smith Freehills Kramer (US) LLP and Cole Schotz P.C. are serving as legal counsel, Alvarez & Marsal North America, LLC is serving as financial advisor, PJT Partners is serving as investment banker, and C Street Advisory Group is serving as strategic communications advisor to the Company.

About Del Monte Foods

For more than 140 years, Del Monte Foods has been driven by our mission to nourish families with earth's goodness. As the original plant-based food company, we're always innovating to make nutritious and delicious foods more accessible to consumers across our portfolio of beloved brands, including Del Monte®, Contadina®, College Inn®, Kitchen Basics®, JOYBA®, Take Root Organics® and S&W®. We believe that everyone deserves great tasting food they can feel good about, which is why we responsibly source and produce food for a healthier tomorrow.

For more information about Del Monte Foods and our products, please visit www.delmontefoods.com or www.delmonte.com.

The Del Monte Foods entities are the U.S. indirect subsidiaries of Del Monte Pacific Limited (Bloomberg: DELM SP, DELM PM) 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.

Media Contact
C Street Advisory Group
delmontefoods@thecstreet.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/del-monte-foods-successfully-completes-sale-transactions-across-all-business-segments-302719240.html

SOURCE Del Monte Foods

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What assets did Del Monte Foods sell on March 19, 2026 (BGS)?

Del Monte Foods sold vegetable, tomato, refrigerated fruit, JOYBA beverage, broth & stock, and shelf-stable fruit assets. According to the company, sales covered substantially all assets and going-concern businesses and included related brand rights and licenses.

Who bought Del Monte Foods' broth & stock business and which brands transferred to BGS?

B&G Foods acquired the broth & stock business and its brands College Inn and Kitchen Basics. According to the company, the sale transfers all assets in that business segment to B&G Foods.

Which buyer acquired Del Monte's refrigerated fruit and tomato businesses on March 19, 2026?

Fresh Del Monte Produce acquired the vegetable, tomato, and refrigerated fruit businesses and JOYBA beverage. According to the company, the deal includes Del Monte and S&W packaged vegetable brands and certain global Del Monte brand IP subject to licenses.

What geographic rights did Pacific Coast Producers obtain in the Del Monte sale?

Pacific Coast Producers acquired shelf-stable fruit rights for the U.S., Puerto Rico, and Mexico. According to the company, the sale covers shelf-stable ambient fruit and ambient fruit sauce brand rights and licenses (excluding production assets).

How can stakeholders get more information about Del Monte Foods' Chapter 11 process?

Stakeholders can access case information and claims guidance via the company's Chapter 11 case website or contact Stretto by phone or email. According to the company, Stretto is the claims agent handling inquiries and support.