Kathrine Frich
For generations, Del Monte products have been a staple in pantries across the U.S.
For generations, Del Monte products have been a staple in pantries across the U.S.
Del Monte Foods Files for Bankruptcy After 139 Years
In a historic turn, Del Monte Foods has filed for Chapter 11 bankruptcy after more than a century of feeding American families.
The iconic canned fruit and vegetable company is now seeking a buyer to navigate its financial collapse.
Crushing Debt Pushes Del Monte Over the Edge
The California-based company, founded in 1886, has been overwhelmed by more than $1 billion in debt.
Interest payments alone became unsustainable, eventually forcing Del Monte to restructure and file for bankruptcy protection in New Jersey.
A Court-Supervised Sale is Underway
CEO Greg Longstreet described the move as a “strategic step forward,” saying the sale process would help rebuild the company.
Despite the turmoil, Del Monte will continue operating during its critical packing season thanks to financial backing.
Emergency Funds Keep Operations Afloat
Del Monte has secured $912.5 million from one of its creditors, along with $165 million in Chapter 11 financing.
This temporary lifeline will keep shelves stocked and employees working, at least for now.
Nearly 140 Years of American Food History at Risk
For generations, Del Monte products have been a staple in pantries across the U.S.
The company’s bankruptcy marks a dramatic fall for one of the oldest and most recognisable names in the canned food industry.
Changing Consumer Habits Spark Industry Crisis
Experts point to shifting consumer preferences as a major factor behind the collapse.
Shoppers are turning away from canned goods with preservatives, instead opting for fresh or organic alternatives.
Inflation Adds More Pressure
Soaring inflation has squeezed grocery budgets and raised production costs, creating a perfect storm for traditional food brands like Del Monte.
Rising costs for ingredients, transportation, and labour only added to the burden.
Steel Tariffs Increase Can Prices
Del Monte also suffered from external policy decisions, specifically, Donald Trump’s 50% tariffs on imported steel.
Introduced in June, the tariffs dramatically increased the cost of metal packaging across the industry.
CEO Stands by Company’s Mission
In a heartfelt statement, Greg Longstreet emphasised Del Monte’s enduring commitment to “providing nutritious and tasty food for everyone.”
He thanked employees, farmers, customers, and creditors for their continued support.
