Del Monte Foods Seeking Buyer After Filing for Bankruptcy

Del Monte Foods, one of the country’s largest producers and distributors of branded food products, announced late Tuesday that it has filed for Chapter 11 bankruptcy protections and is seeking a buyer.

The 138-year-old company has voluntarily commenced Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of New Jersey. Additionally, Del Monte has entered into a restructuring agreement with a group of its lenders holding certain of the company’s loan indebtedness. The group expects that Del Monte will sell all, or at least a “substantial” amount of its assets as part of the restructuring.

In a statement, Del Monte Foods president and CEO Jeff Longstreet said that after an evaluation of all options, a court-supervised sale is “the most effective way to accelerate our turnaround and create a stronger and enduring [company].”

Founded in 1886, the California-based company produces food products under the Del Monte, Contadina, College Inn, Kitchen Basics, JOYBA, Take Root Organics and S&W brands. The company reported over $1.7 billion in U.S. revenue in 2024.

Longstreet cited recent challenges exacerbated by a “dynamic operating environment” as one of the primary reasons for the bankruptcy filing. Not all of Del Monte’s non-U.S. subsidiaries are included in the Chapter 11 proceedings and will continue to operate as usual.

To support its transactions and fund ongoing operations, Del Monte secured a commitment for $912.5 million in debtor-possession financing. The funding includes a fresh $165 million from certain existing lenders, subject to court approval, and is expected to provide “sufficient liquidity” during the sale process.

“We remain committed to our mission of expanding access to nutritious, great-tasting food for all. I am deeply grateful to our employees, growers, customers and vendors, as well as our lenders, for their support in helping us achieve our long-term goals,” said Longstreet in a statement.