After 135 years of dominating pantry shelves, global food giant Del Monte has filed for bankruptcy for its US business, brought down by crushing debt, shifting consumer tastes, and the relentless rise of fresh, healthy alternatives, according to East Week magazine, sister publication of The Standard.
Del Monte has been a household name, with its canned fruits and vegetables sitting proudly on pantry shelves across America and beyond. The company, which once thrived as a symbol of convenience and modernity, now finds itself struggling to survive in an era where fresh, organic and minimally processed foods reign supreme.
Founded in 1886, Del Monte rose to fame in the post-World War II era, when canned goods were seen as modern, convenient and hygienic. The booming post-war generation embraced its products – including canned pineapples, peaches and tomato sauces – as staples of the kitchen.
By the 1980s, Del Monte had expanded into frozen foods, beverages and condiments, owning popular brands like College Inn broths and Joyba teas.
But as the healthy food revolution took hold in the 1990s, consumers began turning away from high-sodium, high-sugar canned foods, labeling them as over processed and therefore unhealthy. Competition also intensified. Retail giants like Walmart and Costco launched cheaper private-label alternatives, while trendy new brands like Beyond Meat, Oatly, and Chobani captured the hearts of health-conscious shoppers.
Despite attempts to rebrand with organic and sugar-free options, Del Monte couldn’t shake off its outdated canned food image.
After 135 years of dominating pantry shelves, global food giant Del Monte has filed for bankruptcy for its US business, brought down by crushing debt, shifting consumer tastes, and the relentless rise of fresh, healthy alternatives.
Del Monte has been a household name, with its canned fruits and vegetables sitting proudly on pantry shelves across America and beyond. The company, which once thrived as a symbol of convenience and modernity, now finds itself struggling to survive in an era where fresh, organic and minimally processed foods reign supreme.
Founded in 1886, Del Monte rose to fame in the post-World War II era, when canned goods were seen as modern, convenient and hygienic. The booming post-war generation embraced its products – including canned pineapples, peaches and tomato sauces – as staples of the kitchen.
As competition among retail giants surged, the company’s troubles worsened after Philippines-based Del Monte Pacific (DMPL) acquired the US-based Del Monte Foods in 2014 for US$1.68 billion (HK$13.1 billion), loading it with crushing debt. Rising inflation, supply chain disruptions and steel tariffs further squeezed profits.
By 2024, Del Monte’s US operations were bleeding US$118 million in losses, forcing factory closures and layoffs. Credit agency S&P downgraded its rating to B-, warning of an unsustainable debt load.
Del Monte Foods, the US subsidiary of Singapore-listed DMPL, has filed for chapter 11 bankruptcy protection in New Jersey, signaling the beginning of a painful restructuring that may include asset sales and drastic cost-cutting measures. Now, under bankruptcy protection, Del Monte hopes to sell assets and restructure, but its future remains uncertain.
But for many, the move marks the end of an era for a once-dominant food empire.
Del Monte has been a household name, with its canned fruits and vegetables sitting proudly on pantry shelves across America and beyond. The company, which once thrived as a symbol of convenience and modernity, now finds itself struggling to survive in an era where fresh, organic and minimally processed foods reign supreme.
Founded in 1886, Del Monte rose to fame in the post-World War II era, when canned goods were seen as modern, convenient and hygienic. The booming post-war generation embraced its products – including canned pineapples, peaches and tomato sauces – as staples of the kitchen.
As competition among retail giants surged, the company’s troubles worsened after Philippines-based Del Monte Pacific (DMPL) acquired the US-based Del Monte Foods in 2014 for US$1.68 billion (HK$13.1 billion), loading it with crushing debt. Rising inflation, supply chain disruptions and steel tariffs further squeezed profits.
By 2024, Del Monte’s US operations were bleeding US$118 million in losses, forcing factory closures and layoffs. Credit agency S&P downgraded its rating to B-, warning of an unsustainable debt load.
Del Monte Foods, the US subsidiary of Singapore-listed DMPL, has filed for chapter 11 bankruptcy protection in New Jersey, signaling the beginning of a painful restructuring that may include asset sales and drastic cost-cutting measures. Now, under bankruptcy protection, Del Monte hopes to sell assets and restructure, but its future remains uncertain.
But for many, the move marks the end of an era for a once-dominant food empire.
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