All articles tagged with #del monte
After Del Monte Foods shut its Modesto and Hughson canneries, Central Valley peach growers will destroy about 420,000 clingstone peach trees, risking roughly $550 million in lost revenue. Up to $9 million in federal aid will help remove about 3,000 acres of orchards, reducing production by about 50,000 tons and aiming to save roughly $30 million in additional losses, while farmers pivot to other crops.
Del Monte Foods, a historic canned fruit and vegetable company with 139 years of operation, has filed for Chapter 11 bankruptcy to facilitate a court-supervised sale of its assets, aiming to strengthen its financial position and ensure continued operations during a challenging macroeconomic environment.
Del Monte, a historic American food brand, filed for bankruptcy protection after misjudging market shifts post-pandemic, leading to a sale of its assets. The company's decline highlights how even iconic brands can falter when they confuse nostalgia with relevance and fail to adapt to changing consumer preferences.
Del Monte has successfully engineered a pink pineapple called "Pinkglow" that is now being sold in stores. The pink color is achieved by muting the enzyme that converts lycopene to beta-carotene, allowing lycopene to accumulate and give the pineapple its distinctive hue. Del Monte used a technique called RNA interference to achieve this genetic modification. The company also developed a golden pineapple called "Honeyglow." The high prices of these genetically engineered pineapples are due to scarcity and marketing, but as production increases, prices are expected to come down.