Fresh Del Monte Produce is purchasing 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 scooped up by three companies, with Fresh Del Monte buying 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, said in a statement. “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 added 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 purchase will give Fresh Del Monte ownership of Del Monte Foods’ vegetable, tomato and refrigerated fruit assets. This includes Del Monte and S&W packaged vegetable brands, Contadina tomato paste and sauces, Del Monte refrigerated fruit, and the Joyba beverage line.
Fresh Del Monte will also inherit selected facilities in Texas, Illinois, Wisconsin and Washington; two plants in Mexico; and one operation in Venezuela. The transaction, expected to close by the end of the first quarter of 2026, requires court approval and regulatory clearances.
Canned food maker Del Monte Foods declared bankruptcy last July and announced it would seek a buyer for its 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, with a sale the most effective way to turn around its business.
As part of the bankruptcy sale, Del Monte Foods said it was selling its broth and stock business, highlighted by College Inn and Kitchen Basics brands, to Crisco and Ortega owner B&G Foods for an undisclosed amount.
Del Monte Foods also is selling its canned fruit and other packaged fruit and fruit sauce products under the Del Monte and S&W brands to Pacific Coast Producers. The transaction includes the U.S., Puerto Rico and Mexico markets, with financial details also not disclosed.
"This outcome represents a successful result in our sale process and demonstrates the enduring value of Del Monte Foods' brands and operations," said Greg Longstreet, Del Monte Foods’ CEO. "These transactions will create an opportunity for our beloved brands and businesses to thrive under the ownership of three of the leading companies in the food industry.”
