Del Monte Foods, a 138-year-old company known for its canned fruits and vegetables, has filed for bankruptcy and is looking for a buyer. The company announced it is voluntarily entering Chapter 11 and will go through a sale process for all of its assets.
Del Monte secured $912.5 million in new funding to remain afloat during the sale process, which will also keep the company operating normally as it enters peak canning season. The company listed liabilities between $1 billion and $10 billion according to court documents.
The challenges facing Del Monte include declining consumer demand, increased costs from surplus inventory, and shifting consumer preferences towards healthier alternatives. To address these issues, the company has enhanced its financial position and is seeking new ownership.
Del Monte’s history dates back to 1886, with its famous cannery in San Francisco established in 1907. The company once operated as the largest fruit and vegetable cannery in the world by 1909.
Source: https://edition.cnn.com/2025/07/02/food/del-monte-foods-bankruptcy