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Del Monte Foods Maintains U.S. Operations Under Chapter 11 as Asset Sales Advance

It secured $912.5 million in debtor-in-possession financing to fund operations during its court-supervised sale process

SAN DIEGO, CALIFORNIA - APRIL 4: Packages of Del Monte canned green beans are stacked at a Costco Wholesale store on April 4, 2025 in San Diego, California. (Photo by Kevin Carter/Getty Images)
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In this June 22, 2006 file photo, Del Monte canned vegetables are seen for sale in Berkeley, Calif.
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Overview

  • The 138-year-old canned-goods company filed for Chapter 11 in the U.S. Bankruptcy Court for the District of New Jersey to address its heavy debt burden.
  • Court filings list Del Monte’s assets and liabilities each between $1 billion and $10 billion, with obligations to over 10,000 creditors.
  • Under a restructuring support agreement, all or substantially all of Del Monte’s brands and production facilities will be offered in a court-supervised auction.
  • The $912.5 million financing package from existing lenders underwrites uninterrupted U.S. production and distribution during restructuring.
  • Del Monte’s international subsidiaries are excluded from the U.S. proceedings and will continue operating normally outside the bankruptcy process.