Del Monte Pacific's US Unit Files for Bankruptcy

​Following developments disclosed in Del Monte Pacific Limited’s (“DMPL” or the “Company”) announcement on 5 May 2025, a special shareholder formed by certain of the lenders of its United States (U.S.) subsidiary, Del Monte Foods Holdings Limited (“DMFHL”), has appointed a majority of directors to the board of DMFHL.

​DMFHL Files for Chapter 11 Restructuring in the U.S.

The newly constituted board of DMFHL has determined to pursue a value-maximizing sale process. The Company has been advised that DMFHL has entered into a restructuring support agreement (RSA) with a group of its term lenders holding certain of DMFHL’s secured debt. The RSA contemplates a sale of all or substantially all of the assets of DMFHL and certain of its subsidiaries, among other strategic transactions to be implemented through Chapter 11 proceedings in the U.S. Accordingly, DMFHL and certain of its subsidiaries commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of New Jersey on 1 July 2025 Eastern standard time. As part of the Chapter 11 proceeding, DMFHL and certain of its subsidiaries will have access to approximately US$ 912.5 million in “debtor in possession” financing to fund their ongoing operations.

It is important to clarify that Chapter 11 is a U.S. legal process focused on the financial and operational restructuring of a company. Chapter 11 allows a company, through its existing management, to continue operating in the ordinary course. This court-supervised process enables the debtor to formulate a process to address the company’s existing liabilities and related obligations, during which creditor debt collection efforts are generally halted by the imposition of a moratorium during the pendency of the proceedings.

The Company has been advised that this filing is part of DMFHL’s overall strategic plan aimed at maximizing value for its business operations and those of its subsidiaries. Throughout this process, DMFHL and its operating subsidiary, Del Monte Foods Corporation II Inc., will continue normal business operations.

DMFHL’s non-U.S. subsidiaries, including in Latin America, are not included in the Chapter 11 proceedings at this time and continue to operate as usual. For the avoidance of doubt, the Chapter 11 filing does not relate to DMPL or Del Monte Philippines, Inc. (“DMPI”).

Financial Impact Assessment

DMPL, in consultation with its auditors, is evaluating the potential financial implications of this filing on the broader DMPL Group. Any material impacts, including possible non cash impairment charges, will be disclosed in accordance with applicable listing rules.
DMPL does not expect these developments to cause any disruption to its operations outside the U.S.

Stable Performance in Asia

DMPI, with its Asian and international businesses, continues to perform well, with resilient consumer demand, supported by a strong and stable supply chain. The Company is confident in DMPI’s ability to maintain uninterrupted business operations going forward.

Advice to Shareholders

Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company and to consult their financial, tax or other professional advisers if they are in doubt as to the action to take.

The Company will make further announcements as appropriate in accordance with the requirements of the Listing Manual of the Singapore Exchange Securities Trading Limited and the Philippine Stock Exchange, Inc.