How can a century (plus) -old brand, the best choice to help the work of chapter 11 can fall?
The question of the Del Monte foods, the company of about 140 years of this week, chapter 11, he said that a 110-year-old company and looking for a new owner.
“This is a strategic step for Del Monte Foods,” President and CEO Greg Longstreet Tuesday, “he said. “The sales process managed by the court is the most effective way to accelerate our turn and create more powerful and sustainable Del Monte foods.”
The best known company known for the names of canned fruits and vegetables has been owned by Singapore and the Philippine-Linal del Monte Pacific since 2014.
Del Monte foods in California are also home to brands, including college inn broth and shares and Joyba rivers. The recent recent inventory and Del Monte has borrowed from the Pacific transaction, the company, the “Reconstruction Support Agreement” with “a retaliated contract” with a “retreating process” for all or significant sales process “.
Del Monte Foods says it provides $ 912.5 million to finance the borrowers for funding for the financing for the financing of the potential bidder. The court approves is $ 165 million in finance.
The group has four factories – two in the United States and Mexico. Company in May Close a plant in Washington State. The closure last year followed by three people.
“We will be better placed for improved capital structure, developed financial situation and new property, long-term success,” Longstreet.
It is important to note that Del Monte foods are openly listed and directed to fresh foods – produces fresh del monte. This company forced to give his statement to emphasizing that it was not related to Del Monte Foods yesterday.
“The financial or operating results of Fresh Del Monte Product Inc. This separate, unaffiliated company does not affect the legal or financial work,” he said. “The company is financially strong, strategically aligned and loyal to provide long-term value.”
Fresh Del Monte Production is the owner of Del Monte brand for food products made in Europe, Africa and the Middle East – Del Monte foods give the Del Monte brand for food products made in the United States.
And there is a reason why Del Monte Foods’s woes. The company’s shelf is more appealed to the growing number of consumers in the United States, which is visible for fixed products, minimally processed, fresh-cut options.
For Eddie Pearson, the US Consultant’s partner of the Advisor, Del Monte Foods’ move in Chapter 11 “is not only a bankruptcy story – this image of the sooner the consumer choices again.”
“About 140 years later, after the view of America’s stable, the brand of nutrition is reconstructed. Why?” Why? “The modern shopkeeper’s raf life, artificial, farmers’ market vibrations are vibrations.
Del Monte foods may also be squeezed in a different way. Those who have US buyers have The next buyers of the canned fare are more attracted to lowest valuable proposals, which are sold under retail labels in recent months, especially when consumer confidence is under pressure.
The company produces products for its own labels of US retail labels, however As the documents were separated in chapter 11This side of this party “significantly concluded” after the closure of the final plant.
Last tension on tariffs, especially The cost of entries to make dollslikely to have or would not help. The Association of the US Industrial Body Consumer Brands was vocal in his concerns moving to put steel and aluminum tariffs.
On top of that, Del Monte Foods had more inventory after the Covid-19 pandemic. The company’s sales were increased during the most pandemic from the most pandemic, the temporary flight of the pandemic, consumed and well-known and well-known brands. This rose demand did not continue.
Then there are internal factors. Del Monte Foods bears a pile of delay in the Del Monte Pacific than a decade. In the 11th chapter 11, his annual cash interest expenditures in the fiscal year in 2020 – the capital structure was re-financed and the interest rates increased to $ 125 million in finance.
DEL MONTE FOODS ‘DEL MAZE PAP Pacific Shares, shown in Singapore on Tuesday, fell on Tuesday. Del Monte continues to hit the Pacific, Asian and other international enterprises with a “favorable consumer requirement, supported by a strong and stable supply chain.” The company added that the future report assesses the potential impact of the bankruptcy process, including any impairment costs that should be disclosed.
However, according to the annual report of Del Monte Pacific Ocean for 2024, Del Monte Foods, 70% of their parents’ sales.
And those in logistics will closely monitor the situation. Logistics groups are listed as lenders in documents in Chep Usa, Saddle Creek and Uber Freight (such as Transplace).
“During the trial of the trial, Del Monte foods will continue to fulfill customer orders in our portfolio of our favorite brands during this period. “The company will have enough liquidity to pay for goods and suppliers for goods and services provided after the date of provision of information.
What’s been done ahead.
“In the form of pear in Del Monte Foods” was originally created and published Only foodA global brand.
The information on this site has only been included in the faith for general information purposes. We are not intended to give advice for you to be careful and provide no representation or intended representation or intended representation or intended. You must receive professional or specialist recommendations before any action on the basis of our site.
