Del Monte Foods selects bidders for asset sale transactions

January 17, 2026 | 12:00am

MANILA, Philippines — Del Monte Foods Inc., an indirect subsidiary of Singapore and Philippine-listed Del Monte Pacific Ltd. (DMPL), has chosen three bidders for the sale of business assets in its court-supervised auction process.

Del Monte Foods said it has negotiated asset purchase agreements with three parties for substantially all of its assets and business operations as going-concern businesses.

The transactions include the sale of the company’s vegetable, tomato and refrigerated fruit business assets to Fresh Del Monte Produce Inc.; sale of all assets in the broth and stock business segment B&G Foods Inc. and sale of shelf-stable fruit business assets, other than production assets, to Pacific Coast Producers.

Del Monte Foods said the transactions are expected to provide the company with a clear path forward for its assets and business operations to continue under the new ownership of three well-regarded strategic operators.

It said the transactions also 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. 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,” Del Monte Foods CEO Greg Longstreet said.

“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,” he said.

The sale transactions are subject to the approval of the US Bankruptcy Court for the District of New Jersey and customary closing conditions.

Following court approval, Del Monte Foods said it would work with the buyers to transition the ownership of the businesses and related assets in connection with the closing of the sale transactions, all of which are expected to happen by the end of the first quarter.

Del Monte Foods Holdings Ltd. and certain subsidiaries have commenced voluntary Chapter 11 proceedings in the US Bankruptcy Court for the District of New Jersey on July 1, 2025.

DMPL is not a debtor in the Chapter 11 proceedings.

The company said the US business had been deconsolidated in the prior financial period and its results presented as discontinued operations.

“DMPL continues to monitor developments in the Chapter 11 proceedings and to assess their potential implications at the parent-company level,” the company said.