# DEL MONTE CORP (FDP)

Informational only - not investment advice.

CIK: 0001047340
SIC: 0100 Agricultural Production-Crops
SIC breadcrumb: [Agriculture, Forestry, And Fishing](/division/A/) > [SIC Major Group 01](/major-group/01/) > [SIC 0100 Agricultural Production-Crops](/industry/0100/)
Latest 10-K filed: 2026-02-19
SEC page: https://www.sec.gov/edgar/browse/?CIK=1047340
Filing source: https://www.sec.gov/Archives/edgar/data/1047340/000104734026000015/fdp-20251226.htm

## At a glance

FY2025 · period end 2025-12-26 · filed 2026-02-19 · accession 0001047340-26-000015 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001047340.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 4,322,300,000 USD | 2025 | verified |
| Net income | 90,700,000 USD | 2025 | verified |
| Assets | 3,059,000,000 USD | 2025 | verified |
| Free cash flow | 181,300,000 USD | 2025 | computed |
| Net margin | 2.10% | 2025 | computed |
| Operating margin | 3.18% | 2025 | computed |
| Revenue YoY | +0.98% | 2025 | computed |
| ROE | 4.50% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.


## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 4322300000 | USD | 2025 | 2026-02-19 |
| Net income | 90700000 | USD | 2025 | 2026-02-19 |
| Assets | 3059000000 | USD | 2025 | 2026-02-19 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-19. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001047340.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 4,011,500,000 | 4,085,900,000 | 4,493,900,000 | 4,489,000,000 | 4,202,300,000 | 4,252,000,000 | 4,442,300,000 | 4,320,700,000 | 4,280,200,000 | 4,322,300,000 |
| Net income | 225,100,000 | 120,800,000 | -21,900,000 | 66,500,000 | 49,200,000 | 80,000,000 | 98,600,000 | -11,400,000 | 142,200,000 | 90,700,000 |
| Operating income | 244,200,000 | 152,700,000 | 38,600,000 | 114,100,000 | 76,500,000 | 111,000,000 | 156,300,000 | 58,500,000 | 196,300,000 | 137,400,000 |
| Gross profit | 461,400,000 | 331,600,000 | 285,900,000 | 306,400,000 | 250,900,000 | 303,800,000 | 340,200,000 | 350,700,000 | 357,900,000 | 399,100,000 |
| Diluted EPS | 4.33 | 2.39 | -0.45 | 1.37 | 1.03 | 1.68 | 2.06 | -0.24 | 2.96 | 1.88 |
| Operating cash flow | 344,600,000 | 194,200,000 | 246,600,000 | 169,100,000 | 180,600,000 | 128,500,000 | 61,800,000 | 177,900,000 | 182,500,000 | 245,100,000 |
| Capital expenditures | 146,700,000 | 138,500,000 | 150,500,000 | 122,300,000 | 150,000,000 | 98,500,000 | 48,100,000 | 57,700,000 | 51,700,000 | 63,800,000 |
| Dividends paid | 28,200,000 | 30,100,000 | 29,000,000 | 6,700,000 | 14,300,000 | 23,700,000 | 28,700,000 | 35,900,000 | 47,800,000 | 57,400,000 |
| Share buybacks | 108,400,000 | 142,000,000 | 29,400,000 | 17,900,000 | 20,800,000 | 0.00 | 0.00 | 11,800,000 | 0.00 | 29,800,000 |
| Assets | 2,653,300,000 | 2,766,900,000 | 3,255,200,000 | 3,349,900,000 | 3,263,300,000 | 3,398,100,000 | 3,458,900,000 | 3,184,100,000 | 3,096,200,000 | 3,059,000,000 |
| Liabilities | 836,900,000 | 975,700,000 | 1,485,600,000 | 1,550,900,000 | 1,463,400,000 | 1,524,600,000 | 1,483,900,000 | 1,271,400,000 | 1,089,400,000 | 1,028,800,000 |
| Stockholders' equity | 1,791,800,000 | 1,767,400,000 | 1,692,000,000 | 1,719,200,000 | 1,728,000,000 | 1,802,300,000 | 1,904,700,000 | 1,896,300,000 | 1,990,500,000 | 2,016,200,000 |
| Cash and cash equivalents | 20,100,000 | 25,100,000 | 21,300,000 | 33,300,000 | 16,500,000 | 16,100,000 | 17,200,000 | 33,800,000 | 32,600,000 | 35,700,000 |
| Free cash flow | 197,900,000 | 55,700,000 | 96,100,000 | 46,800,000 | 30,600,000 | 30,000,000 | 13,700,000 | 120,200,000 | 130,800,000 | 181,300,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin | 5.61% | 2.96% | -0.49% | 1.48% | 1.17% | 1.88% | 2.22% | -0.26% | 3.32% | 2.10% |
| Operating margin | 6.09% | 3.74% | 0.86% | 2.54% | 1.82% | 2.61% | 3.52% | 1.35% | 4.59% | 3.18% |
| Return on equity | 12.56% | 6.83% | -1.29% | 3.87% | 2.85% | 4.44% | 5.18% | -0.60% | 7.14% | 4.50% |
| Return on assets | 8.48% | 4.37% | -0.67% | 1.99% | 1.51% | 2.35% | 2.85% | -0.36% | 4.59% | 2.97% |
| Liabilities / equity | 0.47 | 0.55 | 0.88 | 0.90 | 0.85 | 0.85 | 0.78 | 0.67 | 0.55 | 0.51 |
| Current ratio | 2.60 | 2.59 | 1.94 | 1.87 | 1.82 | 1.74 | 2.05 | 2.12 | 2.13 | 2.16 |

## As-reported value updates

4 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/FDP/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-07-31. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001047340.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-09-30 |  |  | 0.69 | reported discrete quarter |
| 2023-Q1 | 2023-03-31 |  |  | 0.81 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 |  |  | 0.99 | reported discrete quarter |
| 2023-Q3 | 2023-09-29 | 1,003,100,000 | 8,400,000 | 0.17 | reported discrete quarter |
| 2023-Q4 | 2023-12-29 | 1,008,600,000 | -106,500,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-29 | 1,107,900,000 | 26,100,000 | 0.55 | reported discrete quarter |
| 2024-Q2 | 2024-06-28 | 1,139,700,000 | 53,600,000 | 1.12 | reported discrete quarter |
| 2024-Q3 | 2024-09-27 | 1,019,500,000 | 42,100,000 | 0.88 | reported discrete quarter |
| 2024-Q4 | 2024-12-27 | 1,013,200,000 | 20,400,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-28 | 1,098,400,000 | 31,100,000 | 0.64 | reported discrete quarter |
| 2025-Q2 | 2025-06-27 | 1,182,500,000 | 56,800,000 | 1.18 | reported discrete quarter |
| 2025-Q3 | 2025-09-26 | 1,021,900,000 | -29,100,000 | -0.61 | reported discrete quarter |
| 2025-Q4 | 2025-12-26 | 1,019,500,000 | 31,900,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-03-27 | 1,044,100,000 | 10,000,000 | 0.21 | reported discrete quarter |
| 2026-Q2 | 2026-06-26 | 1,219,100,000 | 21,200,000 | 0.44 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from FDP's latest 10-K: [/company/FDP/business/](/company/FDP/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from FDP's latest 10-K: [/company/FDP/risk-factors/](/company/FDP/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1047340/000104734026000042/fdp-20260626.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-07-31
Report date: 2026-06-26

Item 2.        Management's Discussion and Analysis of Financial Condition and Results of Operations

Overview

We are one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and marketer of prepared fruit and vegetables, juices, beverages and snacks in Europe, Africa and the Middle East. We market our products worldwide under the Del Monte® brand, a symbol of product innovation, quality, freshness and reliability since 1892. Our major sales markets are organized as follows: North America, Europe, the Middle East (which includes North Africa) and Asia. Our global sourcing and logistics system allows us to provide regular delivery of consistently high-quality produce and value-added services to our customers. Our major production operations are located in North, Central and South America, Asia and Africa.

Subsequent to our March 2026 acquisition of select assets of Del Monte Foods, our business is comprised of four reportable segments, three of which represent our primary businesses of fresh and value-added products, banana, prepared foods and one that represents our other ancillary businesses. The business and assets acquired as part of our acquisition of Del Monte Foods is included in our prepared foods reporting segment.

•Fresh and value-added products - includes pineapples, fresh-cut fruit, fresh-cut vegetables (which includes fresh-cut salads), melons, vegetables, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, and avocados.

•Banana

•Prepared Foods - includes prepared fruit and vegetables, juices, other beverages, and meals and snacks

•Other products and services - includes our third-party freight and logistic services business, our Jordanian poultry and meats business and our specialty ingredients business.

Our vision is to inspire healthy lifestyles through wholesome and convenient products. Our strategy is founded on six goals:

31

Table of Contents

Acquisition of Select Assets of Del Monte Foods Corporation II Inc. and Affiliates

On March 19, 2026, we completed the acquisition of select assets from Del Monte Foods Corporation II Inc. and its affiliates ("Del Monte Foods") following a court-supervised bankruptcy auction process under Section 363 of the U.S. Bankruptcy Code. In the acquisition, we acquired (i) the prepared and packaged foods businesses of Del Monte Foods comprising canned vegetable, tomato, and refrigerated fruit business assets operated under the Del Monte®, S&W®, Contadina®, and other trademarks as described in the APA, (ii) four US facilities, two facilities in Mexico, and one facility in Venezuela and (iii) global ownership of the Del Monte® brand, which is subject to existing licensing arrangements across different regions and categories (the “Acquisition”). As part of the Acquisition, we also acquired 100% of the voting interests of Del Monte Foods Mexico and South American subsidiaries, assumption of customer and supplier contracts as defined in the APA, as well as inventory at closing.

The Acquisition reunites the Del Monte® brand under a single owner for the first time in nearly four decades, expanding our prepared foods business and aligning with our existing fresh business under a global strategy to expand household penetration and enhance operational efficiency, flexibility, and cost structure.

Current Macroeconomic Environment

We continue to actively monitor macroeconomic trends and geopolitical pressures around the world including, among others, the conflicts in the Middle East and other regional or global military conflicts. During the first six months of 2026, escalation of the conflict in the Middle East has resulted in significant disruption to shipping activities through the Strait of Hormuz, a critical maritime area used for global supply chain. Due to these disruptions, we incurred customer quality claims, product damages, and write-off of inventory resulting in $0.6 million of customer claims and $1.7 million of other product-related charges recognized during the first six months of 2026. Additionally, these conflicts have resulted in higher costs in certain commodity and transport markets, including those for shipping fuel and fertilizer used for production and shipment of our products. We expect the increases and volatility in these commodity markets to be material. As a result of these increases and volatility, our results and cash flows will be impacted, including increased costs for inputs used in our production and supply chain as well as affecting the affordability of our products for our customers. We continue to monitor developments with respect to the conflict in the region, including its ongoing impact on global commodity prices and shipping and logistic disruptions.

During 2025, the U.S. government signaled or announced numerous changes to its trade policy, including changes to existing trade agreements and the use of tariffs to enforce trade policy. The tariffs impact various jurisdictions we sell into and from which we purchase or source, including Costa Rica, Guatemala and Ecuador where we source the majority of our products sold into the United States. These tariffs exempt imports that are compliant with the United States-Mexico-Canada ("USMCA") trading agreement, which includes a wide range of fresh fruit and vegetables. On November 14, 2025, President Trump issued an executive order removing tariffs on various agricultural products, including certain imported fruits such as bananas and pineapples, reducing our exposure to tariff charges compared to earlier in the year. However, these trade policies are subject to change with limited or no advance notice to the Company. As a result, it is uncertain what, if any, impact tariffs or other trade policy may have on products we source or partially source from outside the United States. While we were able to mostly mitigate additional costs related to tariff charges placed on products sold into the United States during 2025 and the first quarter of 2026, if we are unable to successfully sustain our increased selling prices to our customers, institute new increases for incremental tariffs, or if increased selling prices impact consumer demand, we expect the impact for the remainder of 2026 to be material.

On February 20, 2026, the United States Supreme Court issued a decision invalidating the broad-based tariffs imposed by the U.S. government under the International Emergency Economic Powers Act (IEEPA), including the additional country specific tariffs. We may be eligible to receive refunds of certain tariffs we paid that were levied under the IEEPA, however significant uncertainty exists regarding our ability to claim any potential tariff refunds as well as the timing of such refunds. Subsequent to the ruling by the United States Supreme Court striking down the tariffs, the U.S. government has announced its intent to levy new sets of tariffs under Sections 122 and 301 of the Trade Act of 1974, under Sections 122 and 301 of the Trade Act of which would not fall under the IEEPA. These new set of tariffs could also be facing legal challenges. As a result, significant uncertainty remains on the potential impact of tariffs on the cost of our products sold into the United States. The actual impact of tariffs on our business is subject to a number of factors including the duration of such tariffs, changes to the countries included in the scope of tariffs in the future, changes to amounts, potential retaliatory tariffs imposed by other countries, court rulings and other variables.

32

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Income Taxes

In connection with the examination of the tax returns in three foreign jurisdictions, the taxing authorities have issued income tax deficiencies related to transfer pricing aggregating approximately $275.9 million (including interest and penalties) for tax years 2012 through 2021. We strongly disagree with the proposed adjustments and have filed a protest with each of the taxing authorities.

In one foreign jurisdiction, we are currently contesting tax assessments related to the 2012-2015 audit years and the 2016 audit year in both the administrative court and the judicial court. During 2019 and 2020, we filed actions contesting the tax assessment in the administrative office. Our initial challenge to each of these tax assessments was rejected, and we subsequently lost our appeals at the administrative court. We have subsequently filed actions to contest each of these tax assessments in the country’s judicial courts. In addition, we have filed a request for injunction to the judicial court to stay the tax authorities' collection efforts for these two tax assessments, pending final judicial decisions. The court granted our injunction with respect to the 2016 audit year, however denied our injunction with respect to the 2012-2015 audit years. We timely appealed the denial of the injunction, and on August 10, 2022 the appellate court overturned the denial and granted our injunction for the 2012-2015 audit years with a trial date set for July 4, 2025. During June 2025, we were notified of the hearing being suspended until further notice due to a pending constitutional remedy affecting a rule included in the arguments. Pursuant to local law, we registered real estate collateral with an approximate fair market value of $8.1 million in connection with the grant of the 2016 audit year injunction. This real estate collateral has a net book value of $3.8 million as of the quarter ended June 26, 2026. In addition, in connection with the grant of the 2012-2015 audit year injunction, we registered real estate collateral with an approximate fair market value of $33.7 million, and a net book value of $4.6 million as of the quarter ended June 26, 2026. The registration of this real estate collateral does not affect our operations in the country.

In the second foreign jurisdiction, the administrative court denied our appeal, and on March 4, 2020 we filed an action in the judicial court to contest the administrative court's decision. The case is still pending.

In the third foreign jurisdiction, we received tax assessments related to the 2018-2021 audit years. We filed objections contesting these assessments and subsequently initiated appeals. On January 16, 2026, the Company received an unfavorable decision related to the appeals. On February 9, 2026, we filed an action to pursue further appeal through the applicable appellate forum. The case remains pending.

We will continue to vigorously contest the adjustments and intend to exhaust all administrative and judicial remedies necessary in both jurisdictions to resolve the matters, which could be a lengthy process.

We regularly assess the likelihood of adverse outcomes resulting from examinations such as these to determine the adequacy of our tax reserves. Accordingly, we have not accrued any additional amounts based upon the proposed adjustments. There can be no assurance that these matters will be resolved in our favor, and an adverse outcome of either matter, or any future tax examinations involving similar assertions, could have a material effect on our financial condition, results of operations and cash flows.

Additionally, the European Union (EU) Member States formally adopted the EU’s Pillar Two Directive, which generally provides for a minimum effective tax rate of 15%, as established by the Organization for Economic Co-operation and Development (OECD) Pillar Two Framework. Pursuant to the implementation dates prescribed in the Directive, the rules became effective for the Company for the 2025 fiscal year. A significant number of other countries are expected to also implement similar legislation with varying effective dates. The Company has evaluated the impact of the gl

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1047340/000104734026000015/fdp-20251226.htm
Complete FY 2025 MD&A: /company/FDP/mda/fy2025/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-02-19
Report date: 2025-12-26

Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion of our financial condition and results of operations should be read in conjunction with the information contained in our consolidated financial statements and the notes thereto. The following discussion includes forward-looking statements that involve certain risks and uncertainties, including, but not limited to, those described in Part I, Item 1A. Risk Factors of this Annual Report on Form 10-K. Our actual results may differ materially from those discussed below. See “Special Note Regarding Forward-Looking Statements” below and Part I, Item 1A. Risk Factors, of this Annual Report on Form 10-K.

Overview

We are one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and marketer of prepared fruit and vegetables, juices, beverages and snacks in Europe, Africa and the Middle East. We market our products worldwide under the Del Monte® brand, a symbol of product innovation, quality, freshness and reliability since 1892. Our major sales markets are organized as follows: North America, Europe, the Middle East (which includes North Africa) and Asia. Our global sourcing and logistics system allows us to provide regular delivery of consistently high-quality produce and value-added services to our customers. Our major producing operations are located in North, Central and South America, Asia and Africa.

Our business is comprised of three reportable segments, two of which represent our primary businesses of fresh and value-added products and banana, and one that represents our other ancillary businesses.

•Fresh and value-added products - includes pineapples, fresh-cut fruit, fresh-cut vegetables (which includes fresh-cut salads), melons, vegetables, non-tropical fruit (which includes grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, avocados, and prepared foods (which includes prepared fruit and vegetables, juices, other beverages, and meals and snacks).

•Banana

•Other products and services - includes our third-party freight and logistic services business, our Jordanian poultry and meats business and our specialty ingredients business (previously referred to as our biomass initiatives).

Fiscal Year

Our fiscal year end is the last Friday of the calendar year, unless the first Friday subsequent to the end of the calendar year is January 1st (in which case our year end is January 1st). Fiscal year 2025 had 52 weeks and ended on December 26, 2025. Fiscal year 2024 had 52 weeks and ended on December 27, 2024. Fiscal year 2023 had 52 weeks and ended on December 29, 2023.

Current Macroeconomic Environment and Geopolitical Environment

Starting in fiscal year 2021, we began experiencing inflationary and cost pressures due to volatility and disruption in the global economy. These conditions, which increased our production and distribution costs, were driven by a multitude of external factors including rising interest rates, restrictions and economic impacts related to the COVID-19 pandemic, currency fluctuations, supply chain disruptions and geopolitical conflicts. Based on the stabilization of inflation in certain key markets during the latter part of 2023, we have not established further inflation-justified price increases and surcharges during 2024 and 2025. We are actively monitoring region-specific macroeconomic factors to mitigate increases in our costs, if necessary.

Throughout 2025, the U.S. government has signaled or announced numerous changes to its trade policy, including changes to existing trade agreements and the use of tariffs to enforce trade policy. The tariffs impact various jurisdictions we sell into and from which we purchase or source, including Costa Rica, Guatemala and Ecuador where we source the majority of our products sold into the United States. These tariffs currently exempt imports that are compliant with the United States-Mexico-Canada ("USMCA") trading agreement, which includes a wide range of fresh fruit and vegetables. However, these trade policies are subject to change with limited or no advance notice to the Company. As a result, it is uncertain what, if any, impact tariffs or other trade policy may have on products we source or partially source from Mexico, which makes up approximately 11% of our North American net sales.

37

Table of Contents

Tariffs implemented during 2025 have and may continue to significantly increase our cost of products sold. During the year ended December 26, 2025, we incurred additional costs related to tariff charges placed on products sold into the United States which we were able to mostly mitigate through increased selling prices to our North American customers implemented during the second quarter of 2025. If we are unable to successfully sustain our increased selling prices to our customers, institute new increases for incremental tariffs, or if increased selling prices significantly impact consumer demand, we expect the impact to our gross profit in future periods to be material. The actual impact of the announced tariffs on our business is subject to a number of factors including the duration of such tariffs, changes to the countries included in the scope of tariffs in the future, changes to amounts, potential retaliatory tariffs imposed by other countries, and other variables.

Additionally, we continue to actively monitor geopolitical pressures around the world including, among others, the conflicts in the Middle East and other regional or global military conflicts. As a result of these conflicts, recent shipping disruptions in the Red Sea and surrounding waterways have created logistical pressures that have negatively impacted our business, including impacts to the availability of certain shipping routes resulting in increased shipping times. While we have taken actions to divert our shipping routes in order to minimize impacts on our business, we may not be able to mitigate the impact of additional write-offs, higher shipping rates, or longer shipping routes on our operations if conditions in the regions surrounding the Red Sea deteriorate.

Refer to the “Results of Operations" section below, as well as Part I. Item 1A, Risk Factors of this Annual Report on Form 10-K for further discussion.

Recent Developments

Acquisition of Select Assets of Del Monte Foods Corporation II Inc. and Affiliates

On February 6, 2026, the U.S. Bankruptcy Court for the District of New Jersey (the “Court”) entered a sale order and approved the Asset Purchase Agreement (the “APA”) by and among us acting in our capacity as the Buyer thereunder with Del Monte Foods Holdings Limited and certain of its affiliates (collectively “Del Monte Foods”, acting in their capacity as the Seller thereunder) for approximately $285 million plus assumption of certain liabilities. The Court selected us as the successful bidder, following a competitive bankruptcy auction process under Section 363 of the U.S. Bankruptcy Code. Under the APA, we will acquire i) the prepared and packaged foods businesses of Del Monte Foods comprising canned vegetable, tomato, and refrigerated fruit business assets operated under the Del Monte®, S&W®, Contadina®, Take Root Organics® trademarks, (ii) the bubble tea business operated under the Joyba® trademarks, (iii) four US facilities, two facilities in Mexico, and one facility in Venezuela and (iv) global ownership of the Del Monte® brand, which is subject to existing licensing arrangements across different regions and categories (the “Acquisition”). The APA also provides for the assumption of material customer and supplier contracts as well as inventory at closing to help support uninterrupted service to the existing customer base. We expect to finance the Acquisition through a combination of cash on hand and availability under our existing revolving credit facility. The Acquisition, which we expect to close during the first quarter of 2026, remains subject to regulatory clearances, including under the Hart-Scott-Rodino Act, and other customary closing conditions. The Acquisition brings the Del Monte® brand under a single owner for the first time in nearly four decades, allowing our business to align fresh and shelf-stable foods under one integrated strategy while leveraging our distribution network and infrastructure within North America.

Divestiture of Mann Packing

Consistent with our strategy to enhance long-term productivity by concentrating on higher-return businesses, on October 15, 2025, we entered into an Asset Purchase Agreement with CBRT Processing, LLC, a wholly-owned subsidiary of True Leaf Holdings, LLC (collectively, the "Buyer") to sell the Mann Packing business, including substantially all of the operational assets of Mann Packing, in exchange for $19.0 million plus a variable amount based on inventory at closing of the transaction. The $19.0 million purchase price is payable as follows: (i) $5.0 million payable in sixty (60) monthly installments commencing on the closing date of the transaction, and (ii) $14.0 million payable in a single installment on the fifth anniversary of the closing date of the transaction. Payment for inventory is payable no later than ninety (90) days after the closing date of the transaction, with the exception of payments for growing crop inventory which are payable no later than thirty (30) days following the end of the month in which the crop is harvested and delivered to the Buyer. The transaction closed on December 15, 2025. Additionally, in conjunction with the Asset Purchase Agreement, we entered into a five-year lease agreement with the Buyer to lease our Gonzales, California production facility beginning on the closing date of the transaction. The lease agreement provides the Buyer the option to extend the initial lease-term for an additional five-year period, as well as an option to purchase the Gonzales facility which can be exercised annually as described in the lease agreement.

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Table of Contents

The transaction resulted in a pre-tax loss of $17.9 million. The amount, which primarily represented write-downs performed during the third quarter of 2025 based on the excess of the disposal group's carrying value over its fair value less costs to sell, included an impairment of goodwill allocated to the disposal group of $7.2 million. We recognized proceeds from the transaction of $31.3 million, net of a present value discount of $4.3 million, all of which was outstanding and receivable as of December 26, 2025.

Net Sales

Our net sales are affected by numerous factors, including mainly the balance between the supply of and demand for our products and competition from other fresh produce companies. Our net sales are also dependent on our ability to supply a consistent volume and quality of fresh produce to the markets we serve. As a result of seasonal sales price fluctuations, we have historically realized a greater portion of our net sales and gross profit during the first two calendar quarters of the year. For example, seasonal variations in demand for bananas as a result of increased supply and competition from other fruit are reflected in the seasonal fluctuations of banana prices, with the first six months of each year generally exhibiting stronger demand and higher prices, except in those years where an excess supply exists. In our fresh and value-added products segment, there are seasonal variations in sales of our non-tropical fruit products which reach peak sales season from October to May.

Our strategy for net sales growth is focused on protecting and growing our core business as well as driving innovation and expansion of our value-added categories, including through the development of new products and by targeting the convenience sto

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2025 MD&A: /company/FDP/mda/fy2025/
All MD&A years: /company/FDP/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/FDP/mda/fy2024/): filed 2025-02-24; accession 0001047340-25-000009 (https://www.sec.gov/Archives/edgar/data/1047340/000104734025000009/fdp-20241227.htm)
- [FY 2023 MD&A](/company/FDP/mda/fy2023/): filed 2024-02-26; accession 0001047340-24-000017 (https://www.sec.gov/Archives/edgar/data/1047340/000104734024000017/fdp-20231229.htm)
- [FY 2022 MD&A](/company/FDP/mda/fy2022/): filed 2023-02-22; accession 0001047340-23-000012 (https://www.sec.gov/Archives/edgar/data/1047340/000104734023000012/fdp-20221230.htm)
- [FY 2021 MD&A](/company/FDP/mda/fy2021/): filed 2022-02-23; accession 0001047340-22-000022 (https://www.sec.gov/Archives/edgar/data/1047340/000104734022000022/fdp-20211231.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (SIC 0100 Agricultural Production-Crops) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

No tailored SIC indicator subset is available for this company; use /indicators/.

No macro-to-micro thread currently includes this sector.

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/FDP.md · JSON record: /company/FDP.json · verified financials: /company/FDP/financials.json / /company/FDP/financials.csv · machine TOC for the whole site: /llms.txt