Court Approval to Acquire Select Del Monte Foods Assets
Fresh Del Monte received U.S. Bankruptcy Court approval to purchase the global Del Monte brand and select assets for $285 million plus assumption of certain liabilities; expected to close before the end of Q1 2026 subject to HSR antitrust clearance and remaining closing conditions. Management frames the deal as strategic alignment to unify fresh and packaged food under one company.
Quarterly and Full-Year Revenue
Q4 2025 net sales of $1.02 billion (adjusted net sales $968 million). Full-year 2025 net sales of $4.3 billion (adjusted $4.1 billion). Company expects 2026 continuing-operating net sales to increase 1%–2% (excluding Mann Packing divestiture and Del Monte Foods transaction).
Profitability and Adjusted Results
Q4 gross profit $106 million (adjusted $109 million) with gross margin of 10.4% (adjusted 11.3%). Q4 operating income $46 million (adjusted $48 million) and adjusted EBITDA $67 million. Full-year adjusted operating income $222 million and adjusted EBITDA $300 million.
Earnings Per Share (GAAP vs Adjusted)
Full-year 2025 diluted EPS was $1.88 while adjusted diluted EPS was $3.68. Q4 diluted EPS was $0.67 and adjusted diluted EPS was $0.70, showing a sizable gap between GAAP and adjusted measures driven by nonrecurring items and divestiture/impairment impacts.
Strong Balance Sheet and Cash Generation
Net cash provided by operating activities was $245 million for FY2025. Year-end long-term debt $173 million and adjusted leverage ratio remained below 1x EBITDA. Management described the capital structure as strong to support investments and the pending acquisition.
Shareholder Returns and Capital Allocation Discipline
Board declared quarterly cash dividend of $0.30 per share (annualized $1.20, ~3% yield). The company repurchased 866,000 shares for $30 million (avg. $34.44) and had $120 million available under the repurchase program. Capital expenditures for FY2025 were $64 million focused on production and facility upgrades.
Segment Strength — Fresh & Value-Added
Full-year fresh & value-added net sales $2.6 billion (adjusted $2.4 billion). Gross profit $299 million (adjusted $328 million) with gross margin of 11.4% (adjusted 13.7%). Management highlighted strong demand and pricing for premium pineapples, Honeyglow and fresh-cut products (volumes and pricing up in fresh-cut).
Logistics Modernization and Portfolio Simplification
Sold three older break-bulk vessels and now operates six modern vessels to support global supply chain. Completed divestiture of Mann Packing in December 2025 as part of portfolio streamlining to focus on core businesses.