Del Monte Philippines stable amidst US unit's bankruptcy

Del Monte Philippines Inc., known for its canned pineapples and tomato sauce, is not part of the bankruptcy filed by Del Monte Foods Holdings Limited in the United States.

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Del Monte Foods and Del Monte Philippines are subsidiaries of Del Monte Pacific Limited (DMPL), a Singapore-based company largely owned by the Filipino-Chinese Campos family.

When Del Monte Pacific announced on July 2 that its US unit had filed for chapter 11 bankruptcy, it also clarified that its Philippine operations and other Asian businesses remain financially sound.

"DMPL's subsidiary, Del Monte Philippines Inc. ('DMPI'), with its Asian and international businesses, continues to perform well with resilient consumer demand, supported by a strong and stable supply chain," the parent company said in a statement.

Despite the restructuring and possible asset sale of Del Monte Foods, Del Monte Pacific remains confident in sustaining its operations.