Del Monte Foods’ brand portfolio includes household names such as Del Monte, Contadina, College Inn, S&W, Kitchen Basics, Joyba, and Take Root Organics—many of which remain staples in American and Filipino American kitchens despite the company’s recent bankruptcy filing. (Photo source – delmonte.com)
Del Monte Foods, a Filipino-owned U.S. food giant, has filed for Chapter 11 bankruptcy to restructure debt and pursue a sale. Despite financial woes, the company continues operations, with international units—including Del Monte Philippines—unaffected.
WALNUT CREEK, CA – Del Monte Foods, one of America’s most recognizable canned food brands, has filed for Chapter 11 bankruptcy protection, citing unsustainable debt, rising supply chain costs, and shifting consumer preferences.
The company, headquartered in Walnut Creek, California, and owned by Del Monte Pacific Limited—a food and beverage conglomerate listed in the Philippines and Singapore—announced the filing on July 1, 2025, in the U.S. Bankruptcy Court for the District of New Jersey.
The bankruptcy is part of a broader effort to sell “all or substantially all” of its assets through a court-supervised sale process, the company said.
“After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods,” said CEO Greg Longstreet.
Bankruptcy details and operational continuity
In court filings, Del Monte Foods reported estimated assets and liabilities between $1 billion and $10 billion, with 10,000 to 25,000 creditors listed. The company secured $912.5 million in debtor-in-possession (DIP) financing, including $165 million in new capital, to support day-to-day operations during the restructuring.
Despite the filing, Del Monte emphasized that it remains fully operational, continuing production and distribution of its well-known brands: Del Monte, Contadina, College Inn, S&W, Kitchen Basics, and Joyba.
The company clarified that the Chapter 11 proceedings apply only to its U.S. operations. Its international businesses—including those in the Philippines, India, and other parts of Asia—are not affected and will continue operating independently.
Del Monte Foods is also not affiliated with Fresh Del Monte Produce, a separate publicly traded company based in Florida.
Cost pressures and strategic missteps
Del Monte’s financial troubles have been driven in part by rising costs tied to packaging, transportation, and inventory management. According to the Los Angeles Times, the company overbuilt inventory during the pandemic, which added to storage and distribution expenses.
Inflation, evolving consumer habits, and increased competition further strained profitability. Interest expenses more than doubled in five years, jumping from $66 million in FY2020 to $125 million in FY2025.
In 2024, Del Monte attempted a controversial debt restructuring—transferring key assets beyond creditor reach through a “drop-down transaction.” The move triggered legal challenges from lenders, further complicating the company’s financial position.
Changing market landscape
Long a staple in American pantries, Del Monte has struggled to adapt to a new era of consumer demand centered on fresh, organic, and minimally processed foods.
“Consumer preferences have shifted away from preservative-laden canned food in favor of healthier alternatives,” said Sarah Foss, a senior analyst at Debtwire, in a July 1 interview with CBS News.
She added that while the Del Monte brand still holds recognition, its survival will depend on how quickly it evolves to meet modern expectations.
What lies ahead for Del Monte—and its legacy
Del Monte is expected to begin evaluating bids as part of the court-supervised sale process in the coming weeks, with bankruptcy court approval required for any finalized agreement.
For now, the company continues to fulfill orders and supply retailers, maintaining product availability nationwide.
The bankruptcy marks a significant turning point for a company with more than 135 years of history in American households. But for many Filipino American families, the story goes beyond financial restructuring. Del Monte products—especially canned fruit, pineapple juice, and spaghetti sauce—remain deeply woven into Filipino-American cooking traditions, holidays, and family life.
What many consumers may not realize is that Del Monte Foods in the U.S. is Filipino-owned. Since 2014, the company has been a subsidiary of Del Monte Pacific Limited, a multinational corporation headquartered in the Philippines and listed on both the Philippine and Singapore stock exchanges. The group is majority-controlled by the Campos family of the Philippines, through their ownership of NutriAsia, the company behind well-known Filipino condiments like Datu Puti and UFC.
This ownership makes Del Monte Foods one of the most prominent Filipino-owned food companies operating in the United States. And while its U.S. entity undergoes restructuring, its parent company and international operations—including Del Monte Philippines—remain financially sound and continue operating without disruption.
