Bankrupt Del Monte Foods Divvied Up, Sold to Three Separate Companies

The auction for the assets of Del Monte Foods Corp. II Inc. has been completed, and three successful bidders have emerged to carve up substantially all of the assets and business operations of Del Monte Foods to fold into their own companies. Del Monte Foods filed for Chapter 11 bankruptcy protection as it sought a buyer for the business in July 2025.

Asset purchase agreements have been negotiated and agreed upon with Fresh Del Monte Produce Inc., B&G Foods Inc., and Pacific Coast Producers to acquire portions of the business.

Fresh Del Monte Produce (FDM) will purchase Del Monte Foods’ vegetable, tomato and refrigerated fruit business assets for $285 million plus assumption of certain liabilities. This includes the Del Monte and S&W packaged vegetable brands; the Del Monte, Contadina and Take Root Organics packaged tomato brands; the Del Monte refrigerated fruit brand; and the Joyba beverage brand. FDM will also acquire global ownership of the Del Monte brand and related intellectual property, subject to existing licensing agreements, as well as select U.S. facilities in Texas, Illinois, Wisconsin and Washington, two facilities in Mexico, and one in Venezuela.

In its own announcement on the deal, FDM celebrated the fact that the Del Monte brand would be united under a single owner for the first time in nearly 40 years, bringing the fresh and shelf-stable foods under one integrated strategy. FDM expects to operate the acquired business group through its own dedicated business unit, the company said.

“Bringing the Del Monte brand back together reflects a long-held conviction of mine,” said Mohammad Abu-Ghazaleh, FDM chairman and CEO. “By uniting fresh and shelf-stable food under one strategy, we are honoring the brand’s legacy while supporting it for continued relevance and growth. It allows us to show up more consistently for consumers and to build a stronger, more flexible platform focused on efficiency, innovation, and long-term value creation.”

Meanwhile, B&G Foods will acquire all assets in the Broth & Stock business, including the College Inn and Kitchen Basics brands, for approximately $110 million in cash, subject to an inventory adjustment at closing, and assumption of certain liabilities.

“The College Inn and Kitchen Basics brands complement our existing portfolio of brands,” said Casey Keller, president and CEO of B&G Foods. “This acquisition is consistent with our longstanding acquisition strategy of targeting well-established brands with defensible market positions and strong cash flow at reasonable purchase price multiples.”

Finally, Pacific Coast Producers will obtain 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 U.S., Puerto Rico and Mexico.

Greg Longstreet, CEO of Del Monte Foods, called the outcome “a successful result in our sale process,” that “demonstrates the enduring value of Del Monte Foods’ brands and operations.” The three transactions will create an opportunity for the brands and businesses acquired to thrive, he went on to say.