The Del Monte brand will be combined under a single owner for the first time in nearly 40 years following a successful bid in a court-supervised sale, company officials said.
Fresh Del Monte Produce Inc. announced Thursday that it successfully bid $285 million plus liabilities for Del Monte Foods Corporation II Inc. and its affiliates. The transaction would combine the brand’s fresh fruit and vegetable operations with its shelf-stable lineup, including Del Monte and S&W brand packaged vegetables, Contadina and Take Root Organics tomato products, Joyba beverages, and Del Monte refrigerated fruit.
The combined company’s footprint, meanwhile, would include facilities in Illinois, Texas, Washington and Wisconsin, along with other sites in Mexico and Venezuela.
The deal would not include the Del Monte and S&W canned fruit and fruit sauce brands or the College Inn and Kitchen Basics broth and stock brands.
A hearing on the sale — which was conducted under Section 363 of the U.S. Bankruptcy Code — is scheduled for later this month. The companies expect the sale to be completed in the first quarter of the year, subject to approval by regulators and the court.
“Bringing the Del Monte brand back together reflects a long-held conviction of mine,” Fresh Del Monte Chairman and CEO Mohammad Abu-Ghazaleh 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.”
