Fresh Del Monte Produce Inc. has been named the successful bidder to acquire select assets of Del Monte Foods Corporation II Inc. and its affiliates.
The proposed transaction aims to reunify the Del Monte brand and create a multi-category food platform.
The acquisition price is $285 million, with additional liabilities to be assumed in a court-supervised sale under Section 363 of the U.S. Bankruptcy Code.
Brand Reunification
The transaction brings the Del Monte brand under single ownership for the first time in nearly four decades, integrating fresh and shelf-stable foods under one strategy.
Strategic Acquisition
Fresh Del Monte's acquisition includes various food businesses, operational facilities, customer contracts, and global ownership of Del Monte brands.
Financial Approaches
The acquisition will be financed through a combination of cash on hand and available credit under Fresh Del Monte's revolving credit facility.
- The transaction aims to strengthen brand consistency and expand consumer reach across multiple occasions and channels.
- It is expected to enhance operational efficiency, support long-term value creation, and contribute to building a flexible platform focused on innovation.
Fresh Del Monte's successful bid marks a significant step towards reuniting iconic food brands and leveraging synergies for strategic growth and consumer benefit.