Fresh Del Monte Produce Inc. (NYSE: FDP) has been named the successful bidder to acquire select assets of California-based Del Monte Foods Corporation II Inc. for a purchase price of $285 million, plus assumption of certain liabilities, through a court-supervised sale under Section 363 of the U.S. Bankruptcy Code.
The transaction remains subject to court approval and applicable regulatory clearances, including Hart-Scott-Rodino clearance. The sale hearing is scheduled for Jan. 28, with closing expected by the end of the first quarter of 2026.
The transaction would bring the Del Monte brand under a single owner for the first time in nearly four decades, aligning fresh and shelf-stable foods under one integrated strategy.
“Bringing the Del Monte brand back together reflects a long-held conviction of mine,” said Mohammad Abu-Ghazaleh, Fresh Del Monte’s 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.”
Under the bid, Fresh Del Monte would acquire prepared and packaged foods businesses comprising 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, the Del Monte refrigerated fruit brand and the Joyba beverage brand.
The acquisition would also include an operational footprint with selected U.S. facilities in Texas, Illinois, Wisconsin and Washington, two facilities in Mexico and one operation in Venezuela. Material customer and supplier contracts and inventory at closing would support uninterrupted service.
Fresh Del Monte would gain global ownership of the Del Monte brand, subject to existing licensing arrangements across different regions and categories, including all U.S. rights to the Del Monte, S&W, Contadina and Joyba trademarks, as well as certain operating assets and employees in the United States, Mexico and Venezuela.
Excluded from the transaction are the canned fruit, other ambient packaged fruit and fruit sauce products for the U.S., Puerto Rico and Mexico markets under the Del Monte and S&W brands, along with physical assets associated with these businesses in those countries, as well as the broth and stock businesses under the College Inn and Kitchen Basics brands.
Del Monte Foods separately announced it has selected three successful bidders in its court-supervised auction process and negotiated asset purchase agreements for substantially all of its assets and business operations as going-concern businesses.
Following closing, Fresh Del Monte plans to steward the acquired brands through a dedicated business unit, ensuring continuity for retailers, foodservice partners, suppliers and consumers, with no immediate changes expected to products on shelf.
Fresh Del Monte intends to finance the acquisition through a combination of cash on hand and availability under its revolving credit facility. Rabobank served as exclusive financial advisor to Fresh Del Monte, with Greenberg Traurig and Dickinson Wright acting as legal advisors.
Coral Gables, Florida-based Fresh Del Monte Produce is one of the world’s leading vertically integrated producers, marketers and distributors of fresh and fresh-cut fruit and vegetables, with products sold in more than 80 countries. The company markets its products worldwide under the Del Monte brand under license from Del Monte Foods, Inc.
Fresh Del Monte is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada or Del Monte Asia Pte. Ltd.
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