The 138-year-old firm, Del Monte Meals, has filed for chapter, the corporate stated in a press release.
“After an intensive analysis of all obtainable choices, we decided a court-supervised sale course of is the simplest solution to speed up our turnaround and create a stronger and enduring Del Monte Meals,” stated President and CEO Greg Longstreet.
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Del Monte is getting into Chapter 11 and is on the lookout for a purchaser to amass its belongings. The corporate calls itself “The Unique Plant-Based mostly Meals Firm” and makes a wide range of canned vegatables and fruits. Along with the identify model Del Monte, the corporate produces Contadina canned tomatoes and broths from Faculty Inn.
“Whereas we’ve confronted challenges intensified by a dynamic macroeconomic atmosphere, Del Monte Meals has nourished households for practically 140 years, and we stay dedicated to our mission of increasing entry to nutritious, great-tasting meals for all,” Longstreet stated.
Del Monte is predicated in Walnut Creek, California. The corporate famous within the assertion that it secured $912.5 million from its lenders to fund its operations whereas the corporate is being offered.
“I’m deeply grateful to our staff, growers, clients and distributors, in addition to our lenders for his or her assist in serving to us obtain our long-term targets,” Longstreet stated.
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The 138-year-old firm, Del Monte Meals, has filed for chapter, the corporate stated in a press release.
“After an intensive analysis of all obtainable choices, we decided a court-supervised sale course of is the simplest solution to speed up our turnaround and create a stronger and enduring Del Monte Meals,” stated President and CEO Greg Longstreet.
Associated: This Expensive Pineapple Prices Practically $400 — And It is Already Promoting Out
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