Del Monte Foods Receives Court Approval for Sale Transactions

Court approves asset purchase agreements across all Del Monte Foods business segments, including Vegetable, Fruit, Tomato, and Broth & Stock businesses

Provides a clear path forward for Del Monte Foods' portfolio of brands and businesses under new ownership

Company remains focused on maintaining service continuity for customers and partners through close of transactions

WALNUT CREEK, Calif., Feb. 6, 2026 /PRNewswire/ -- Del Monte Foods Corporation II Inc. (the "Company" or "Del Monte Foods"), a leading producer, distributor, and marketer of premium quality, packaged food products, today announced that it has received Court approval for three asset purchase agreements (the "Sale Transactions") for substantially all of its assets and business operations as going-concern businesses. The Sale Transactions are:

• The sale to Fresh Del Monte Produce Inc. (NYSE: FDP), of the Company's 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, Del Monte® refrigerated fruit brand, and the JOYBA® beverage brand, together with global ownership of the Del Monte® brand and related intellectual property, subject to existing licensing arrangements;
  
  
• The sale to B&G Foods, Inc. (NYSE: BGS), of all assets in the broth & stock business segment, including College Inn® and Kitchen Basics® brands; and
  
  
• The sale to Pacific Coast Producers of the shelf-stable fruit business assets (other than production assets), including the rights and licenses to use the Del Monte® and S&W® brands for shelf-stable packaged ambient fruit and ambient fruit sauces, in the United States (including Puerto Rico) and Mexico.

"We are pleased to have reached this important milestone on our path toward securing the future of Del Monte Foods' beloved brands and businesses under new ownership," said Greg Longstreet, Chief Executive Officer. "We have already begun productive discussions with the buyers to support a smooth transition of operations for our team members, customers, vendors, and partners, and continue to focus on delivering high-quality food products through closing."

The Sale Transactions, which are expected to close in the first quarter of 2026, subject to customary closing conditions, were determined to represent the highest or otherwise best offers for the Company's assets and businesses following a competitive court-supervised auction process.

Additional information regarding the Company's chapter 11 process is available at https://cases.stretto.com/DelMonteFoods. Stakeholders with questions can contact the Company's claims agent, Stretto, by calling (833) 228-5497 (US and Canada toll-free) or +1 (714) 263-3709 (International) or emailing [email protected].

Advisors

Herbert Smith Freehills Kramer (US) LLP and Cole Schotz P.C. are serving as legal counsel, Alvarez & Marsal North America, LLC is serving as financial advisor, PJT Partners is serving as investment banker, and C Street Advisory Group is serving as strategic communications advisor to the Company.

About Del Monte Foods

For nearly 140 years, Del Monte Foods has been driven by our mission to nourish families with earth's goodness. As the original plant-based food company, we're always innovating to make nutritious and delicious foods more accessible to consumers across our portfolio of beloved brands, including Del Monte®, Contadina®, College Inn®, Kitchen Basics®, JOYBA®, Take Root Organics® and S&W®. We believe that everyone deserves great tasting food they can feel good about, which is why we responsibly source and produce food for a healthier tomorrow.

For more information about Del Monte Foods and our products, please visit www.delmontefoods.com or www.delmonte.com.

The Del Monte Foods entities are the U.S. indirect subsidiaries of Del Monte Pacific Limited (Bloomberg: DELM SP, DELM PM) and are not affiliated with certain other Del Monte companies around the world, including Fresh Del Monte Produce Inc., Del Monte Canada, Del Monte Asia Pte. Ltd., Conagra/Productos Del Monte, or Del Monte Panamerican.

Media Contact
C Street Advisory Group
[email protected]

SOURCE Del Monte Foods