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USA: Fresh Del Monte Foods Files for Bankruptcy and Plans Asset Selloff
US canned fruit and vegetable company Del Monte Foods has announced it has filed for Chapter 11 bankruptcy protection in the District of New Jersey. The company plans to sell all or most of its assets through a court-supervised restructuring process.
The filing casts uncertainty over supply chains for core processed produce items such as peaches, pears, pineapple, sweetcorn, green beans, and tomatoes. While Del Monte Foods says it will maintain operations, any disruption or sale could affect grower contracts, procurement strategies, or pricing in the US processed produce sector.