Overview

• Del Monte’s U.S. arm filed for Chapter 11 bankruptcy and secured $912.5 million in debtor-in-possession financing to maintain operations through its sale process.
• Court filings indicate the company owes between $1 billion and $10 billion to more than 10,000 creditors as it restructures.
• CEO Greg Longstreet described a court-supervised sale of U.S. assets as the most effective way to accelerate turnaround and strengthen the balance sheet.
• A May settlement of a controversial 2024 debt drop-down deal has increased annual interest expenses by roughly $4 million.
• Rising steel tariffs, inflation-driven supply-chain strains and consumer shifts toward healthier or cheaper alternatives have intensified Del Monte’s cost pressures.