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Fresh Del Monte Produce has received approval from the US Bankruptcy Court to acquire select assets of California-based Del Monte Foods Corporation and its affiliates, marking a major milestone in a court-supervised sale process under Section 363 of the US Bankruptcy Code.

The ruling clears the transaction to move into the pre-closing phase, providing regulatory and procedural certainty as the company advances through remaining steps, including customary regulatory reviews and other closing conditions.

As previously disclosed, Fresh Del Monte will pay $285 million, plus the assumption of certain liabilities, for the assets.

The company expects the transaction to close in the first quarter of 2026, subject to final regulatory approvals and standard closing requirements.

Upon closing, Fresh Del Monte will acquire a portfolio of prepared and packaged food businesses, including vegetable, tomato and refrigerated fruit operations. The transaction also includes global ownership of the Del Monte brand subject to existing licensing arrangements.

The company said additional details on the transaction’s strategic and financial impact will be shared following closing, in line with standard disclosure practices.

With court approval secured, Fresh Del Monte is now focused on completing regulatory reviews and preparing for integration.

Fresh Del Monte Produce operates in more than 80 countries and is one of the world’s largest vertically integrated producers and distributors of fresh and fresh-cut fruits and vegetables.

The company also maintains a significant presence in prepared foods across Europe, Africa and the Middle East.