Latest news with #cannedfoods
Yahoo
3 hours ago
- Business
- Yahoo
Why is Del Monte bankrupt? 138-year-old brand seeks buyer in Chapter 11 filing
A well-known grocery store brand, which has long sold canned fruits and vegetables, has filed for bankruptcy. No tax on tips or overtime, with a catch: What to know as Trump's 'big, beautiful bill' passes the Senate 'Alligator Alcatraz' merch appears on Amazon and Florida GOP website, making light of controversial facility Psychologists now know exactly what makes someone cool. Turns out, the definitions are universal Del Monte Foods, a 138-year old company, filed for Chapter 11 bankruptcy on Thursday. The company is headquartered in Walnut Creek, California, and operates six production facilities across the U.S., and two in Mexico. The company is now looking for a buyer with plans to sell off all of its assets. 'This is a strategic step forward for Del Monte Foods,' said Greg Longstreet, president and CEO of Del Monte Foods, in a press release. 'After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods. With an improved capital structure, enhanced financial position and new ownership, we will be better positioned for long-term success.' In addition to its flagship Del Monte brand, which includes canned fruits, vegetables, fruit cups, juices, and more, the company is also known for selling College Inn and Contadina products. The company began in 1886 before building a cannery in 1907 in San Francisco in 1907. Just two years later, in 1909, it had become the largest canned fruit and vegetable company in the world, according to the company's website. Del Monte says it has secured $912.5 million in new funding, which includes $165 million from some of its current lenders. The funds will allow the company to continue operations leading up to its sale. The company listed liabilities estimated between $1 billion and $10 billion, per court documents. Mr. Longstreet continued, 'While we have faced challenges intensified by a dynamic macroeconomic environment, Del Monte Foods has nourished families for nearly 140 years, and we remain committed to our mission of expanding access to nutritious, great-tasting food for all. I am deeply grateful to our employees, growers, customers and vendors, as well as our lenders for their support in helping us achieve our long-term goals.' Del Monte also operates outside of the U.S. and Mexico, with other main locations in the Philippines, Singapore, and India. The company says it doesn't expect interruptions to non-U.S. units, including its operations in Mexico. When it comes to recognizable grocery store products, Del Monte has been one of the biggest staples on the shelves for over a decade. Still, the company is not the only major brand to face financial challenges as of late. A number of fast casual chains, pharmacies, and other stores, such as Big Lots and Joann Fabrics, have all filed for Chapter 11 bankruptcy in recent months, signaling that in a tough market even iconic brands are struggling to hold on. While Del Monte says increased production costs are to blame for the company's struggles, some experts say that canned foods, which rely heavily on preservatives, are no longer America's go-to at the grocery store. 'Consumer preferences have shifted away from preservative-laden canned food in favor of healthier alternatives,' Sarah Foss, global head of legal and restructuring at Debtwire, said, per CNN. While Americans did lean on canned food immediately after Trump announced new tariffs, with more information around the risks of high levels of bisphenol A (BPAs) in canned products, there are plenty of health-focused reasons to avoid them altogether. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fast Company
2 days ago
- Business
- Fast Company
Why is Del Monte bankrupt? 138-year-old brand seeks buyer in Chapter 11 filing
A well-known grocery store brand, which has long sold canned fruits and vegetables, has filed for bankruptcy. Del Monte Foods, a 138-year old company, filed for Chapter 11 bankruptcy on Thursday. The company is headquartered in Walnut Creek, California, and operates six production facilities across the U.S., and two in Mexico. The company is now looking for a buyer with plans to sell off all of its assets. 'This is a strategic step forward for Del Monte Foods,' said Greg Longstreet, president and CEO of Del Monte Foods, in a press release. 'After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods. With an improved capital structure, enhanced financial position and new ownership, we will be better positioned for long-term success.' From canned fruit king to bankruptcy In addition to its flagship Del Monte brand, which includes canned fruits, vegetables, fruit cups, juices, and more, the company is also known for selling College Inn and Contadina products. The company began in 1886 before building a cannery in 1907 in San Francisco in 1907. Just two years later, in 1909, it had become the largest canned fruit and vegetable company in the world, according to the company's website. Del Monte says it has secured $912.5 million in new funding, which includes $165 million from some of its current lenders. The funds will allow the company to continue operations leading up to its sale. The company listed liabilities estimated between $1 billion and $10 billion, per court documents. Mr. Longstreet continued, 'While we have faced challenges intensified by a dynamic macroeconomic environment, Del Monte Foods has nourished families for nearly 140 years, and we remain committed to our mission of expanding access to nutritious, great-tasting food for all. I am deeply grateful to our employees, growers, customers and vendors, as well as our lenders for their support in helping us achieve our long-term goals.' Overseas operations remain unaffected Del Monte also operates outside of the U.S. and Mexico, with other main locations in the Philippines, Singapore, and India. The company says it doesn't expect interruptions to non-U.S. units, including its operations in Mexico. When it comes to recognizable grocery store products, Del Monte has been one of the biggest staples on the shelves for over a decade. Still, the company is not the only major brand to face financial challenges as of late. A number of fast casual chains, pharmacies, and other stores, such as Big Lots and Joann Fabrics, have all filed for Chapter 11 bankruptcy in recent months, signaling that in a tough market even iconic brands are struggling to hold on. Why is Del Monte filing for bankruptcy now? While Del Monte says increased production costs are to blame for the company's struggles, some experts say that canned foods, which rely heavily on preservatives, are no longer America's go-to at the grocery store. 'Consumer preferences have shifted away from preservative-laden canned food in favor of healthier alternatives,' Sarah Foss, global head of legal and restructuring at Debtwire, said, per CNN. While Americans did lean on canned food immediately after Trump announced new tariffs, with more information around the risks of high levels of bisphenol A (BPAs) in canned products, there are plenty of health-focused reasons to avoid them altogether.
Reuters
2 days ago
- Business
- Reuters
Del Monte Foods seeks buyer as it initiates US bankruptcy proceedings
July 1 (Reuters) - Del Monte Foods kicked off efforts to pursue a sale as it filed for Chapter 11 bankruptcy proceedings in the United States on Tuesday under an agreement with certain key lenders, the company said in a statement. The company has secured $912.5 million in financing to support itself through the proceedings, it said, adding that it intends to remain open and continue operations throughout the bankruptcy. The 135-year old company hosts names like canned fruits and vegetables brand Del Monte, College Inn, under which it sells broth and stocks, and tea brands like Joyba. It listed estimated assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the New Jersey bankruptcy court, while the number of creditors is estimated between 10,000 and 25,000. "This is a strategic step forward for Del Monte Foods. After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods," CEO Greg Longstreet said. Certain of its non-U.S. subsidiaries are not included in the Chapter 11 proceedings and continue to operate as usual, Del Monte Foods said.
Yahoo
22-06-2025
- Health
- Yahoo
9 canned foods that deserve a permanent spot in your pantry, according to a dietitian: Beans, salmon, tomatoes and more
Once relegated to bomb shelters and bachelor pads, canned foods are finally getting the respect they deserve. Some of the most nutritious, convenient foods you can stock come in those humble metal containers. "People assume canned foods are overly processed and lack nutrition, but that's not the full picture," explains Serena Benali, a registered dietitian and president of In Good Nutrition. "The key is choosing options without added salt or sugar and ensuring cans are BPA-free and undented to avoid contamination risks." For women over 40 especially, strategic pantry stocking becomes even more important. Life gets busier, and hormonal changes affect everything from metabolism to bone density. At this stage of life, every bite matters more, and convenience shouldn't come at a cost. While there are some canned foods to avoid, these nine canned powerhouses deliver serious nutrition while making your weeknight cooking infinitely easier. Black beans, chickpeas and kidney beans are all nutritional powerhouses, delivering approximately 15 grams of plant-based protein and 13 grams of fibre per cup. This combination keeps you satisfied and supports steady blood sugar levels throughout the day. Since they're already cooked, they shave significant time off meal prep compared to dried varieties. Toss them into soups, grain bowls or salads for an instant nutrition upgrade. Forget the expensive fresh fillets for a moment. Canned salmon delivers the same omega-3 fatty acids that support heart health, mental clarity and reduce inflammation throughout your body. Since most of us aren't eating fatty fish three times a week (especially if you're landlocked), this budget-friendly option helps you consistently meet those essential nutrient needs. This article is for informational purposes only and is not a substitute for professional medical advice, diagnosis or treatment. Contact a qualified medical professional before engaging in any physical activity, or making any changes to your diet, medication or lifestyle. The beauty lies in its versatility — throw it into pasta salads, mix it with avocado for quick salmon cakes, or flake it over greens for an instant protein boost. Here's something that might surprise you: In some ways, canned tomatoes are more nutritious than fresh ones. The cooking process during canning increases the bioavailability of lycopene, a potent antioxidant that helps prevent oxidative damage to DNA, lipids and proteins. When shopping, look for salt-free varieties. Your marinara sauce, chili and soup base just became exponentially healthier with zero extra effort. While most people reach for pumpkin only when autumn leaves start falling, Benali recommends using it year-round. "It's an easy way to add colour, nutrition and flavour to your meals," she notes. This orange powerhouse packs beta-carotene, which converts to vitamin A, lutein and zeaxanthin for eye health, plus fibre to support digestion and keep you feeling satisfied. Stir it into your morning oatmeal, blend it into smoothies, or swirl it into pasta sauces for a creamy, nutrient-dense upgrade. Just make sure you're buying 100 per cent pumpkin, not pie filling loaded with sugar. Before you wrinkle your nose, hear me out. Sardines are nutritional superstars that happen to be naturally low in mercury (a significant win over larger fish). They're packed with omega-3 fats for brain and heart health, as well as calcium and vitamin D for strong bones. "For women over 40, I often recommend canned sardines," Benali explains. "This stage of life brings hormonal changes, including perimenopause, that impact metabolism, bone density, digestion and brain function." One of Benali's go-tos? Sardine fritters. Mash up them with white beans, egg and breadcrumbs, then pan-fry into golden patties and serve with tzatziki and greens. Full-fat canned coconut milk brings medium-chain triglycerides (MCTs) to your pantry, which may help support metabolism and energy production. It's your secret weapon for creating rich, satisfying meals without dairy — think creamy curries, smooth soups or even decadent chia puddings. The satiety factor here is key. Those healthy fats help you feel fuller longer, preventing the afternoon energy crash that sends you hunting for snacks in your desk drawer. Don't underestimate these little green gems. A half-cup serving provides 4 grams of plant-based protein and a generous amount of fibre, along with vitamin K to support bone mineralization. Their natural sweetness can transform ordinary dishes; try Benali's French-inspired trick of stirring them into mashed potatoes for added fibre, colour and a subtle sweet twist. Here's where things get really interesting. Artichokes are among the richest natural sources of prebiotic fibre, particularly inulin, which feeds the beneficial bacteria in your gut. A half-cup serving provides around 5 grams of total fibre, with 2 grams being prebiotic, making them incredibly microbiome-friendly. Choose water-packed versions and toss them into grain bowls, pasta dishes or Mediterranean-inspired salads. Dried lentils cook relatively quickly, but the canned version makes busy weeknight cooking almost effortless. Just open and rinse, and they're ready to go. One cup delivers about 12 grams of plant-based protein and 14 grams of fibre, including the soluble type that helps lower LDL cholesterol. You'll also get iron, magnesium and nearly half your daily folate needs — all crucial for energy production and healthy blood cells. When navigating the canned food aisle, Benali recommends looking for: BPA-free cans, whenever possible "No salt added" or "low sodium" labels No added sugars Minimal ingredients: you should mostly see the food item, water, or simple preservatives like citric acid "For regular canned foods, a simple rinse under running water can significantly reduce the sodium content," she adds. "Canned foods can fit into a low-sodium lifestyle when chosen and used thoughtfully." The bottom line? Your pantry doesn't need to be perfect to be powerful. These nine canned foods prove that convenience, nutrition and deliciousness can coexist. No fuss, no guilt. Just good food, ready when you are.
The Guardian
12-06-2025
- Business
- The Guardian
Tuna, beans, Spam: Trump's tariffs threaten the canned foods millions rely on to survive
Canned foods make up a big part of 20-year-old Cale Johnson's diet: tuna, corned beef hash, beans, chicken soup, Spam and fruit. They're affordable and have a long shelf life, which is essential for many people in the US like Johnson, who earns a low income and works two part-time jobs in addition to being a full-time student in Omaha, Nebraska. In the days after Donald Trump's recent decision to double tariffs on steel and aluminum, Johnson says he's worried. 'I know that some people have been resorting to stocking up only on non-perishable goods now before they get more expensive,' said Johnson, who has used the Supplemental Nutrition Assistance Program (Snap) to make ends meet. 'There's a feeling of panic and having to prepare in the coming months.' One of Trump's key campaign promises was to lower grocery costs for consumers who have had to contend with pandemic supply chain issues, rising food prices and inflation in recent years. But his new steel and aluminum tariffs, which took effect on 4 June, threaten to do just the opposite. The new 50% tariff rate could raise food prices in a matter of months, industry trade groups and supply chain experts warn. Tariffs on canned goods, which could raise prices for items in steel cans by up to 15%, would create what some anti-hunger experts are calling a 'double-whammy' for people using Snap, now that the program is facing the biggest cuts in history. The Republican House budget bill, which passed in the House and is now under review in the Senate, would slash Snap, which is considered the US's most effective tool in fighting hunger, taking food off the table for millions of Americans – including 2 million children – at a time when the cost of key staples is set to grow. 'As grocery prices continue to rise and Snap benefits are reduced, families across the country will be left with fewer resources to meet even their basic needs,' said Gina Plata-Nino, Snap's deputy director at the Food Research & Action Center (Frac). 'We are likely to see a rise in food insecurity, housing instability and homelessness as more individuals and families are forced to make impossible choices between paying for food, rent, transportation, and other essentials.' The current average Snap benefit is only about $6 a day per person. Parke Wilde, a food economist at Tufts University who studies food security, hunger and the economics of food assistance programs such as Snap, agreed that hunger could 'worsen substantially' over the next two years as a result of these policies. 'This is a sharp retrenchment in the strength of the hunger safety net,' he said. If Snap cuts are signed into law and metal tariffs are not overturned or exempted for food production, more pressure will also be placed on hunger relief organizations and food banks. 'Non-perishables, including canned goods, are always part of our strategy because of their long shelf life and versatility,' said Michelle Orge, executive director of Second Harvest Foodbank of Southern Wisconsin. 'Increased costs of canned goods will affect our ability to procure the amount that we have planned for and that our partners and neighbors are relying on. We will either buy less or we will buy less variety if we find a good price on certain items, but not others. 'Increased costs from tariffs could also potentially affect non-perishable food donations since the cost of those items will be higher and folks may be less likely to donate them,' she said. The Can Manufacturers Institute, an industry trade group, says the latest tariffs would inflate canned food prices and give foreign canned food producers in Asia, including China, a chance to 'undercut' US farmers and food producers. 'The tariffs are a food security issue,' said Scott Breen, president of CMI. 'We want to be able to manufacture cans here and fill them with food grown in the US. The tariffs create an unnecessary cost that someone has to bear: the can maker, the retailer, the brand and the consumer.' American can makers import nearly 80% of tin mill steel, the type used for products such as canned beans, tuna, chicken broth and tomato paste, a result of the cut in domestic production after the 2018 tariffs on tin mill steel during Trump's first term. Since then, American steelmakers have shut down nine tin mill lines with only three domestic production lines remaining. CEOs from companies such as Del Monte, Goya Foods, Bush's Beans and Hormel Foods have already called on Trump for targeted tariff relief on tin mill steel and aluminum produced by allies such as Canada before the tariff was doubled from 25% to 50%, however it is unclear if an exemption will be granted. The Aluminum Association, which represents companies that make most of the aluminum and aluminum products shipped in North America, said in a recent statement that the tariff of 50% 'threatens to undermine the very industry the administration aims to support'. Although Trump says he is attempting to revive US manufacturing with his tariffs, rising grocery prices would be part of a ripple effect that could raise costs across various industries. In the end, it's regular people who will pay the price. 'Food insecurity is not going away … and people's food prices are not going down,' said Frac's Plata-Nino. 'GOP policymakers haven't thought about those things because the lived reality of average Americans is very different from those who live in wealthy places.'
