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Fresh Del Monte Produce is purchasing the assets. The $285 million acquisition of California-based Del Monte Foods brings the iconic produce name under a single owner for the first time in nearly 40 years.
The deal comes as canned food manufacturer Del Monte closes after it announced the sale of its assets. Bankruptcy last summer. Del Monte’s brands have been acquired by three companies, with Fresh Del Monte acquiring its prepared package business.
“Reintegrating the Del Monte brand reflects my long-held beliefs,” Mohammad Abu-Ghazaleh, Fresh Del Monte’s president and CEO, said in a statement. “By combining fresh and shelf-stable foods into one strategy, we are honoring the brand’s heritage while supporting its continued relevance and growth.”
Abu-Ghazaleh added that consolidating the Del Monte brands under one roof will allow the company to operate “a more robust and flexible platform focused on efficiency, innovation and long-term value creation.”
With this purchase, Fresh Del Monte will take ownership of Del Monte Foods’ vegetable, tomato and refrigerated fruit assets. This includes the Del Monte and S&W packaged vegetable brands, Contadina tomato paste and sauce, Del Monte refrigerated fruit, and the Joyba beverage line.
The same goes for Fresh del Monte. It inherits some facilities in Texas, Illinois, Wisconsin and Washington. 2 plants in Mexico; We operate one business in Venezuela. The transaction, expected to be completed by the end of the first quarter of 2026, is subject to court approval and regulatory clearance.
Canned food manufacturer Del Monte Foods announced in July that it would declare bankruptcy and search for a buyer for the business. At the time, the 139-year-old company said it was facing pressure from a “dynamic macroeconomic environment” as cash-strapped consumers cut back on spending. Selling was the most effective way to turn around the business.
As part of the bankruptcy sale, Del Monte Foods said it is selling its broth and staples business, highlighted by the College Inn and Kitchen Basics brands, to Crisco and Ortega owner B&G Foods for an undisclosed sum.
Del Monte Foods also sells canned fruit and other packaged fruit and fruit sauce products to Pacific Coast Producers under the Del Monte and S&W brands. The deal includes markets in the U.S., Puerto Rico and Mexico, and financial details were not disclosed.
“These results represent a successful outcome of our sales process and demonstrate the continued value of the Del Monte Foods brand and operations,” said Greg Longstreet, CEO of Del Monte Foods. “These transactions will create opportunities for the brands and companies we love to thrive under the ownership of three leading companies in the food industry.”
