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Del Monte Pacific Seeks Other Funding Sources as Liabilities Rise - BusinessWorld Online

UNITED STATES, JUL 7 – Del Monte Foods seeks buyer amid $1.2 billion debt and shifting consumer preferences away from canned goods, with $912.5 million financing secured to maintain operations during bankruptcy.

  • On Monday, Del Monte Pacific flagged a capital deficit from its US unit’s Chapter 11, with no operational disruption, as Nanofilm acquires Sydrogen’s remaining stake for S$15 million.
  • Del Monte Foods Holdings Ltd. filed for Chapter 11 on July 1 due to high debt, rising interest expenses, and misjudged pandemic inventory buildup, leading to liquidity issues.
  • Nanofilm owns 65% of Sydrogen’s 70 million shares, with a S$15 million purchase; mm2 Asia’s 1.9 billion-share placement aims to raise S$14 million for debt and working capital.
  • Following the announcements, LHN shares declined 0.7% to S$0.715 and DMP’s shares dropped 1.36% to ₱2.91, reflecting immediate market reaction.
  • Del Monte Pacific plans a placement to strengthen liquidity, aiming to raise S$14 million for debt repayment and operational needs.
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Business Times broke the news in on Monday, July 7, 2025.
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