FMCG brand Del Monte Foods has announced it has selected three successful bidders for the auction of its core businesses.

The sale transactions include the company’s vegetable, tomato and refrigerated fruit business, which includes the broth and stock brand and the shelf-stable fruit company.

Following the transactions, Del Monte Foods will continue to be managed under the ownership of three strategic operators according to the business.

Greg Longstreet, CEO of Del Monte Foods said: “This outcome represents a successful result in our sale process and demonstrates the enduring value of Del Monte Foods’ brands and operations.

“These transactions will create an opportunity for our beloved brands and businesses to thrive under the ownership of three of the leading companies in the food industry.

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“We are committed to working closely with all parties to support a smooth transition of operations and are grateful to our team members, customers, and vendor partners for their steadfast commitment and meaningful contributions.”

The bidders were chosen after a comprehensive sales process and the final deal is expected to be completed by the first quarter of 2026.

The sale transactions are subject to approval of the US Bankruptcy Court, which is scheduled for 28 January. Meanwhile, the food manufacturer will continue to serve customers across its portfolio before the deal is closed.