Del Monte Foods Receives Court Approval for Sale Transactions
Rhea-AI Summary
Del Monte Foods (BGS) received Court approval on Feb. 6, 2026 for three asset purchase agreements to sell substantially all business assets as going concerns.
The transactions allocate vegetable, tomato, refrigerated fruit, JOYBA beverage and global Del Monte brand rights to Fresh Del Monte Produce (FDP); broth & stock assets including College Inn and Kitchen Basics to B&G Foods (BGS); and shelf-stable fruit rights to Pacific Coast Producers. Closings are expected in Q1 2026, subject to customary conditions.
Positive
- Court approval obtained for three asset sale transactions
- Sale transactions preserve brands as going-concern businesses
- Buyers include established industry players Fresh Del Monte Produce and B&G Foods
- Closings expected in Q1 2026, providing a clear timing window
Negative
- Company is operating under a chapter 11 process
- Transactions remain subject to customary closing conditions and may not close
News Market Reaction – FDP
In the Feb 6 session, FDP declined 2.66%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Court approves asset purchase agreements across all Del Monte Foods business segments, including Vegetable, Fruit, Tomato, and Broth & Stock businesses
Provides a clear path forward for Del Monte Foods' portfolio of brands and businesses under new ownership
Company remains focused on maintaining service continuity for customers and partners through close of transactions
- 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 (includingPuerto Rico ) andMexico .
"We are pleased to have reached this important milestone on our path toward securing the future of Del Monte Foods' beloved brands and businesses under new ownership," said Greg Longstreet, Chief Executive Officer. "We have already begun productive discussions with the buyers to support a smooth transition of operations for our team members, customers, vendors, and partners, and continue to focus on delivering high-quality food products through closing."
The Sale Transactions, which are expected to close in the first quarter of 2026, subject to customary closing conditions, were determined to represent the highest or otherwise best offers for the Company's assets and businesses following a competitive court-supervised auction 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
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 nearly 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
Media Contact
C Street Advisory Group
delmontefoods@thecstreet.com
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SOURCE Del Monte Foods