Filing Alert: Del Monte Foods Chapter 11
Del Monte Foods Files Chapter 11 in District of New Jersey
Del Monte Foods Corporation II Inc. ("Del Monte Foods") and its debtor affiliates⁽¹⁾, a Walnut Creek, CA-based producer and marketer of branded canned fruits, vegetables, and other packaged food products, filed for Chapter 11 protection on Jul. 1 in the U.S. Bankruptcy Court for the District of New Jersey.
The filing comes under a restructuring support agreement with key lenders that positions the 135-year-old company for a court-supervised going-concern sale. Del Monte Foods has secured $912.5 million in DIP financing, including $165 million of new funding, to support operations during the process, which CEO Greg Longstreet described as “a strategic step forward” to accelerate the turnaround and create a stronger, more resilient business.
The company reports $1 billion to $10 billion in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-16984.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Co-bankruptcy Counsel:
- Michael D. Sirota
- Cole Schotz P.C.
- Email: msirota@coleschotz.com
Co-bankruptcy Counsel:
- Herbert Smith Freehills Kramer (US) LLP
British Virgin Islands Counsel:
- Appleby Law Firm
Financial Advisor:
- Alvarez & Marsal North America, LLC
Investment Banker:
- PJT Partners LP
Signatories:
- Jonathan Goulding – Chief Restructuring Officer
Claims Agent:
Equity Security Holders:
- DM Intermediate II Corporation – 100% Equity Interest
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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