As I understand it, Del Monte made a few mistakes.
The first was related to COVID. Sales of canned goods spiked during COVID. They misinterpreted this as a permanent change and invested accordingly.
Second, they did not find a way to compete with store brands, which are no longer at a quality deficit vs. more expensive name brands like Del Monte.
Finally, they didn't address changes in diet that (as I see it) makes sugary syrupy tree candy not something people want to eat. Carbs are recognized now as seriously unhealthy. Ozempic and related drugs may have also affected this.
The first was related to COVID. Sales of canned goods spiked during COVID. They misinterpreted this as a permanent change and invested accordingly.
Second, they did not find a way to compete with store brands, which are no longer at a quality deficit vs. more expensive name brands like Del Monte.
Finally, they didn't address changes in diet that (as I see it) makes sugary syrupy tree candy not something people want to eat. Carbs are recognized now as seriously unhealthy. Ozempic and related drugs may have also affected this.