Del Monte Pacific Limited on Jun, 1 2026 submitted a Capital and Financial Recovery Plan to the Philippine Stock Exchange setting out how it intends to address a capital deficit triggered by the July 2025 Chapter 11 filing of former US unit Del Monte Foods Holdings.

The company said it had recognised an impairment and write-off of about 703.5 million US dollars related to the US subsidiary, leading to a balance-sheet deficit at the holding level. Total borrowings of roughly 1.2 billion US dollars across four group entities, including operating arm Del Monte Philippines Inc (DMPI), will be restructured under an integrated, largely consensual framework.

Key measures under development include: • Refinancing DMPI’s credit facilities to better match cash-flow capacity. • Converting or extending holding-company debt to align with expected distributions from DMPI. • Resolving a hybrid preference-share instrument at DMPI. • Pursuing balance-sheet strengthening through potential equity-linked deals and asset disposals.

Asset sales already agreed comprise the 56 million US dollar disposal of the S&W trademark and a staged sale of a 14.39 per cent stake in India-listed Sundrop Brands for about 31 million US dollars. Proceeds will support working capital and debt reduction.

The restructuring is slated to move through three phases: internal alignment by Jul 2026, negotiation and documentation from Aug to Nov 2026, and full refinancing targeted in 2027. Management asserted that DMPI remains profitable, with nine-month FY2026 sales of 657.9 million US dollars and net profit of 85.9 million US dollars.

Del Monte Pacific committed to timely disclosure of material milestones and expects no recurrence of the FY2025 audit disclaimer following the deconsolidation of the US business.