Del Monte Foods, best known for its canned vegetables and fruits, filed for bankruptcy earlier this week and is looking for a buyer. The nearly 140-year-old brand announced on Tuesday that it is voluntarily entering Chapter 11 as “part of an overall strategic balance-sheet restructuring.”
“A court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods,” said president and CEO Greg Longstreet in a statement.
