CHICAGO, July 2, 2025 —Food giant Del Monte Foods Corp. II said it is seeking a buyer after filing for Ch. 11 bankruptcy protection.
The company has also committed to a financial restructuring in collaboration with several holders of its debt.
Current lenders have committed to providing $165 million in additional funding to maintain operations and cover the restructuring. An additional $747.5 million will be provided by other sources, Del Monte Foods said in announcing the bankruptcy filing.
The company said the moves will enable it to continue functioning as usual and without interruption.
The changes will have no effect on an independent company, Fresh Del Monte Produce, which markets pineapples, bananas and other fruits and vegetables under the Del Monte brand name.
"This is a strategic step forward for Del Monte Foods,” Greg Longstreet, Del Monte Foods’ CEO, said in the restructuring and bankruptcy announcement. “With an improved capital structure, enhanced financial position and new ownership, we will be better positioned for long-term success."
Del Monte Foods is the manufacturer and marketer of such well-known food products as Contadina tomato products, College Inn soups, and JOYBA boba tea drinks.
As Managing Editor for IFMA The Food Away from Home Association, Romeo is responsible for generating the group's news and feature content. He brings more than 40 years of experience in covering restaurants to the position.
Cover image courtesy: Closed Loop Project