Del Monte Foods Announces Successful Bidders in Court-Supervised Auction Process

Asset purchase agreements reached across all Del Monte Foods business segments, including Vegetable, Fruit, Tomato, and Broth & Stock businesses 

Company remains focused on delivering high-quality food products through the transition process

WALNUT CREEK, Calif., Jan. 15, 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 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. (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 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.

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 [email protected].

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.joyba.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
[email protected]

View original content to download multimedia:https://www.prnewswire.com/news-releases/del-monte-foods-announces-successful-bidders-in-court-supervised-auction-process-302662383.html

SOURCE Del Monte Foods, Inc.