Del Monte Foods enters bankruptcy, seeking buyer, facing challenges
From Yahoo Finance: 2025-07-02 13:10:00
US-based fruit and vegetables business Del Monte Foods is seeking a buyer after entering Chapter 11 bankruptcy proceedings. Del Monte Pacific has secured $912.5m in financing. The bankruptcy proceedings do not include non-US subsidiaries. Del Monte Foods aims for a value-maximizing sale process to restructure its balance sheet.
Del Monte Foods, known for its canned fruit and vegetables, faces challenges intensified by the macroeconomic environment. Del Monte Pacific’s financial reports do not break down Del Monte Foods’ performance. The company recently announced the closure of a fruit products manufacturing plant, impacting 51 workers.
Del Monte Pacific’s Asian and international businesses continue to perform well. The company is evaluating the potential impact of Del Monte Foods’ bankruptcy on its financials. Del Monte Pacific’s net investment value in Del Monte Foods was $579m as of January. The company reported a net loss in the third quarter of the 2025 financial year.
Read more: Del Monte Foods enters Chapter 11 bankruptcy, seeks buyer