It’s the end of an era.
After 138 years, the consumer turn towards fresh fruits and veggies has forced Del Monte to face “challenges intensified by a dynamic macroeconomic environment,” notably consumers cutting back on their spending and a growing shift toward spending on private labels.
Although Del Monte has filed for bankruptcy, its products, such as its famous fruit cocktails and canned vegetables, may still be available in the future because the 138-year-old company is looking to be bought out.
A filing with the New Jersey bankruptcy court obtained by Reuters estimates the company’s assets and liabilities at between $1 billion and $10 billion, while the number of creditors is estimated at between 10,000 and 25,000.
It’s been a while for us as far as buying Del Monte products but if you say you haven’t wolfed down a bowl of Yellow Sliced Cling Peaches in Heavy Syrup, cold out of the fridge, I’ll say you lived a deprived childhood.
I think they had the better fruit and vegetable can market. I have eaten some off brands and wished I hadn't...
ReplyDeleteI've always preferred Del Monte. I agree with you that their products must have been fresher when canned because they were always much better than the others. ESPECIALLY the peaches I loved those things.
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