The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

Fresh Del Monte Produce has received approval from the US Bankruptcy Court to acquire select assets of California-based Del Monte Foods Corporation.

Del Monte Foods is set to close its fruit cannery in Modesto, California, marking the end of operations at a facility that has played a long-standing role in the agricultural economy of the state’s Central Valley.

Del Monte Foods has selected three successful bidders for substantially all of its assets following a court-supervised auction process, setting the stage for the transition of its major business segments to new ownership.

Del Monte Foods has filed for Chapter 11 bankruptcy protection as part of a broader plan to restructure its balance sheet and pursue a sale of the business.

Del has unveiled its latest product innovation, Bubble Fruit Gel, a unique snacking option that combines real fruit, popping boba and gel.