Del Monte Indonesia Affirms Uninvolved Bankruptcy Del Monte Foods In The US
JAKARTA Del Monte Indonesia opened its voice through the upload of Instagram Stories on its official account, following the circulation of news about the bankruptcy of Del Monte Foods, the Del Monte brand holder company in the United States (US) region.
"In connection with the circulation of news of the bankruptcy of the Del Monte brand holding company specifically for the USA region. The owner of Del Monte in Indonesia is Del Monte ASIA, which has no ownership relationship with Del Monte USA. So that Del Monte Indonesia continues to operate as usual," wrote Del Monte Indonesia's official statement quoted Monday, July 7th.
In Indonesia, Del Monte products have been marketed by PT Lasallefood Indonesia since 2003 and the first product to be marketed is chili sauce and tomato sauce.
Kemudian, perusahaan ini memperluas lini produk Del Monte lainnya dengan meluncurkan minuman kopi cincau pada tahun 2016, disusul minuman cahaya cincau pada tahun 2018.
Referring to information from the official website of PT Lasallefood Indonesia, currently there are seven variants of Del Monte products marketed in Indonesia, namely tomato sauce, chili sauce, Spageti sauce, barbecu sauce, fried rice seasoning, shrimp chili sauce, and sardines, all of which are distributed through 59 distribution networks spread throughout Indonesia.
Meanwhile, Del Monte Foods in the United States, a 138-year-old company known for its canned fruit and vegetable products, has voluntarily filed bankruptcy protection under Chapter 11 (Chapter 11) to the court, in the process, the company plans to sell all of its assets, Reuters reported on Tuesday, July 2.
Some of Del Monte's famous food brands are Del Monte, Kaldu College Inn, and the canned tomatoes of Contadina.
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In addition, Chapter 11 is a legal mechanism in the US that allows companies to restructure finance while continuing to carry out operations under court supervision.
"After a thorough evaluation of various options, we conclude that the sale process under court scrutiny is the most effective way to accelerate recovery and establish stronger and more sustainable Del Monte Foods," said Del Monte Foods President and CEO Greg Longstreet in a statement quoted by CNN.
Based on court documents, Del Monte Foods' debt estimates are in the range of 1 to 10 billion US dollars (around Rp. 16.22 trillion to Rp. 162.22 trillion).
Even so, the company has secured new funding worth US$912.5 million or an estimated Rp14.80 trillion to ensure operations continue to run normally during the sales process.