Fresh Del Monte Produce is acquiring assets of California-based Del Monte Foods for $285 million, bringing the iconic produce name under a single owner for the first time in nearly four decades.
The deal comes as canned food maker Del Monte completes the sale of assets after declaring bankruptcy last summer. Del Monte’s brands were acquired by three companies, with Fresh Del Monte purchasing its prepared and packaged businesses.
“Bringing the Del Monte brand back together reflects a long-held conviction of mine,” Mohammad Abu-Ghazaleh, Fresh Del Monte’s chairman and CEO, stated. “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.”
Abu-Ghazaleh also mentioned that consolidating the Del Monte brand under one roof will enable the company to operate a “stronger, more flexible platform focused on efficiency, innovation, and long-term value creation.”
The acquisition will give Fresh Del Monte ownership of Del Monte Foods’ vegetable, tomato, and refrigerated fruit assets, including various well-known brands like Del Monte, S&W, Contadina, and Joyba.
Fresh Del Monte will also take over selected facilities in Texas, Illinois, Wisconsin, and Washington, along with plants in Mexico and an operation in Venezuela. The transaction is expected to close by the end of the first quarter of 2026, pending court approval and regulatory clearances.
Del Monte Foods declared bankruptcy last July due to challenges in the macroeconomic environment. As part of the bankruptcy sale, the company is divesting its broth and stock business to B&G Foods and its canned fruit products to Pacific Coast Producers.
Greg Longstreet, Del Monte Foods’ CEO, expressed satisfaction with the outcome of the sale process, stating, “These transactions will create an opportunity for our beloved brands and businesses to thrive under the ownership of three leading companies in the food industry.”