10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 10-Q

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(Mark One)

☒    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 27, 2026

OR

☐    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to             

333-07708

(Commission file number)

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FRESH DEL MONTE PRODUCE INC.

(Exact Name of Registrant as Specified in Its Charter)

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Cayman Islands			N/A
(State or Other Jurisdiction of Incorporation or Organization)			(I.R.S Employer Identification No.)
c/o H&C Corporate Services Limited
P.O. Box 1569, 6th Floor, Athena Tower, 71 Fort Street
George Town,	Grand Cayman,	KY1-1110
Cayman Islands			N/A
(Address of Registrant’s Principal Executive Office)			(Zip Code)

(305) 520-8400

(Registrant’s telephone number including area code)

Please send copies of notices and communications from the Securities and Exchange Commission to:

c/o Del Monte Fresh Produce Company

241 Sevilla Avenue

Coral Gables, Florida 33134

(Address of Registrant’s U.S. Executive Office)

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Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Ordinary Shares, $0.01 Par Value Per Share	FDP	New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒

As of April 24, 2026, there were 47,576,609 ordinary shares of Fresh Del Monte Produce Inc. issued and outstanding.

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

Form 10-Q

For the Quarter Ended March 27, 2026

TABLE OF CONTENTS

	Page
PART I: FINANCIAL INFORMATION
Item 1. Financial Statements
Consolidated Balance Sheets (unaudited) as of March 27, 2026 and December 26, 2025	1
Consolidated Statements of Operations (unaudited) for the quarters ended March 27, 2026 and March 28, 2025	2
Consolidated Statements of Comprehensive Income (unaudited) for the quarters ended March 27, 2026 and March 28, 2025	3
Consolidated Statements of Cash Flows (unaudited) for the quarters ended March 27, 2026 and March 28, 2025	4
Consolidated Statements of Shareholders’ Equity (unaudited) for the quarters ended March 27, 2026 and March 28, 2025	5
Notes to Consolidated Financial Statements (unaudited)	6
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	28
Item 3. Quantitative and Qualitative Disclosures About Market Risk	40
Item 4. Controls and Procedures	40
PART II. OTHER INFORMATION
Item 1. Legal Proceedings	41
Item1A. Risk Factors	41
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	43
Item 5. Other Information	43
Item 6. Exhibits	43
Signatures	45

PART I: FINANCIAL INFORMATION

Item 1.        Financial Statements

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (Unaudited)

(U.S. dollars in millions, except share and per share data)

	March 27, 2026		December 26, 2025
Assets
Current assets:
Cash and cash equivalents	$	66.3	$	35.7
Trade accounts receivable, net of allowance of $36.4 and $38.2, respectively	434.3		376.1
Other accounts receivable, net of allowance of $5.2 and $4.9, respectively	96.7		85.9
Inventories, net	728.4		581.9
Assets held for sale	14.9		9.6
Prepaid expenses and other current assets	36.5		51.6
Total current assets	1,377.1		1,140.8
Investments in and advances to unconsolidated companies	42.7		63.2
Property, plant and equipment, net	1,216.8		1,119.5
Operating lease right-of-use assets	191.4		192.8
Goodwill	389.8		390.0
Intangible assets, net	61.2		33.1
Deferred income taxes	47.9		45.5
Other noncurrent assets	75.5		74.1
Total assets	$	3,402.4	$	3,059.0
Liabilities and shareholders' equity
Current liabilities:
Accounts payable and accrued expenses	$	518.8	$	467.3
Current maturities of debt and finance leases	7.0		1.5
Current maturities of operating leases	46.5		45.4
Income taxes and other taxes payable	15.8		15.1
Total current liabilities	588.1		529.3
Long-term debt and finance leases	451.5		176.2
Retirement benefits	102.9		92.4
Deferred income taxes	80.3		79.1
Operating leases, less current maturities	123.9		125.9
Other noncurrent liabilities	26.2		25.9
Total liabilities	1,372.9		1,028.8
Commitments and contingencies (See Note 11)
Shareholders' equity:
Preferred shares, $0.01 par value; 50,000,000 shares authorized; none issued or outstanding	—		—
Ordinary shares, $0.01 par value; 200,000,000 shares authorized; 47,573,508 and 47,373,027 issued and outstanding, respectively	0.5		0.5
Paid-in capital	608.5		606.6
Retained earnings	1,439.7		1,447.3
Accumulated other comprehensive loss	(33.9)		(38.2)
Total Fresh Del Monte Produce Inc. shareholders' equity	2,014.8		2,016.2
Noncontrolling interests	14.7		14.0
Total shareholders' equity	2,029.5		2,030.2
Total liabilities and shareholders' equity	$	3,402.4	$	3,059.0

See accompanying notes.

1

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(U.S. dollars in millions, except share and per share data)

	Quarter ended
	March 27, 2026		March 28, 2025
Net sales	$	1,044.1	$	1,098.4
Cost of products sold	955.1		1,006.2
Gross profit	89.0		92.2
Selling, general and administrative expenses	51.1		48.1
Gain on disposal of property, plant and equipment, net	2.2		0.8
Asset impairment and other charges, net	20.0		—
Operating income	20.1		44.9
Interest expense	2.2		3.4
Interest income	0.3		0.1
Income from equity method investments	6.6		—
Other expense, net	6.3		2.8
Income before income taxes	18.5		38.8
Income tax provision	7.8		6.9
Net income	10.7		31.9
Less: Net income attributable to noncontrolling interests	0.7		0.8
Net income attributable to Fresh Del Monte Produce Inc.	$	10.0	$	31.1
Earnings per share:
Net income per ordinary share attributable to Fresh Del Monte Produce Inc. - Basic	$	0.21	$	0.65
Net income per ordinary share attributable to Fresh Del Monte Produce Inc. - Diluted	$	0.21	$	0.64
Dividends declared per ordinary share	$	0.30	$	0.30
Weighted average number of ordinary shares:
Basic	47,449,871		47,956,338
Diluted	47,869,455		48,268,620

See accompanying notes.

2

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

(U.S. dollars in millions)

	Quarter ended
	March 27, 2026		March 28, 2025
Net income	$	10.7	$	31.9
Other comprehensive income:
Net unrealized gain (loss) on derivatives, net of tax	8.4		(2.4)
Net unrealized foreign currency translation (loss) gain	(4.7)		6.9
Net change in retirement benefit adjustment, net of tax	0.6		(0.3)
Comprehensive income	15.0		36.1
Less: Comprehensive income attributable to noncontrolling interests	0.7		0.8
Comprehensive income attributable to Fresh Del Monte Produce Inc.	$	14.3	$	35.3

    

See accompanying notes.

3

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(U.S. dollars in millions)

	Quarter ended
	March 27, 2026		March 28, 2025
Operating activities:
Net income	$	10.7	$	31.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16.1		18.5
Amortization of debt issuance costs	0.1		0.1
Share-based compensation expense	2.5		2.3
Asset impairments	16.1		—
Change in uncertain tax positions	0.7		(0.9)
Gain on disposal of property, plant and equipment, net	(2.2)		(0.8)
Income from equity method investments	(6.6)		—
Deferred income taxes	(1.2)		(4.4)
Other, net	(0.2)		(0.4)
Changes in operating assets and liabilities
Receivables	(62.9)		(38.7)
Inventories	21.0		(5.4)
Prepaid expenses and other current assets	(1.6)		(0.8)
Accounts payable and accrued expenses	50.8		46.1
Other assets and liabilities	0.8		(1.4)
Net cash provided by operating activities	44.1		46.1
Investing activities:
Capital expenditures	(14.4)		(10.0)
Proceeds from sales of property, plant and equipment	12.8		1.9
Acquisition of select assets of Del Monte Foods, net of cash acquired	(307.7)		—
Distributions received from unconsolidated companies	29.6		—
Investments in and advances to unconsolidated companies	(2.5)		(1.2)
Other investing activities	—		0.5
Net cash used in investing activities	(282.2)		(8.8)
Financing activities:
Proceeds from debt	266.9		148.4
Payments on debt	(1.9)		(159.5)
Distributions to noncontrolling interests	—		(0.1)
Share-based awards settled in cash for taxes	(1.7)		(0.9)
Dividends paid	(14.2)		(14.4)
Repurchase and retirement of ordinary shares	(4.0)		(7.6)
Other financing activities	(0.4)		(0.4)
Net cash provided by (used in) financing activities	244.7		(34.5)
Effect of exchange rate changes on cash	(1.0)		(1.0)
Net increase in cash, cash equivalents and restricted cash	5.6		1.8
Cash, cash equivalents and restricted cash, beginning	64.2		32.6
Cash, cash equivalents and restricted cash, ending	$	69.8	$	34.4
Supplemental cash flow information:
Cash paid for interest	$	2.2	$	4.2
Cash paid for income taxes	$	5.2	$	1.8
Non-cash financing and investing activities:
Right-of-use assets obtained in exchange for new operating lease obligations	$	6.8	$	14.9
Preliminary deferred payment owed to sellers in connection with the Acquisition of select assets of Del Monte Foods	$	1.1	$	—
Dividends on restricted stock units	$	0.6	$	0.4

See accompanying notes.

4

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(Unaudited) (U.S. dollars in millions, except share data)

	Ordinary Shares Outstanding	Ordinary Shares		Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Fresh Del Monte Produce Inc.  Shareholders' Equity		Noncontrolling Interests		Total Shareholders' Equity
Balance as of December 26, 2025	47,373,027	$	0.5	$	606.6	$	1,447.3	$	(38.2)	$	2,016.2	$	14.0	$	2,030.2
Settlement of restricted stock units	300,481	—		—		—		—		—		—		—
Share-based payment expense	—	—		2.5		—		—		2.5		—		2.5
Repurchase and retirement of ordinary shares	(100,000)	—		(1.2)		(2.8)		—		(4.0)		—		(4.0)
Dividend declared	—	—		0.6		(14.8)		—		(14.2)		—		(14.2)
Comprehensive income:
Net income	—	—		—		10.0		—		10.0		0.7		10.7
Unrealized gain on derivatives, net of tax	—	—		—		—		8.4		8.4		—		8.4
Net unrealized foreign currency translation loss	—	—		—		—		(4.7)		(4.7)		—		(4.7)
Change in retirement benefit adjustment, net of tax	—	—		—		—		0.6		0.6		—		0.6
Comprehensive income										14.3		0.7		15.0
Balance as of March 27, 2026	47,573,508	$	0.5	$	608.5	$	1,439.7	$	(33.9)	$	2,014.8	$	14.7	$	2,029.5

	Ordinary Shares Outstanding	Ordinary Shares		Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Fresh Del Monte Produce Inc. Shareholders' Equity		Noncontrolling Interests		Total Shareholders' Equity
Balance at December 27, 2024	47,940,300	$	0.5	$	605.0	$	1,435.4	$	(50.4)	$	1,990.5	$	16.3	$	2,006.8
Settlement of restricted stock units	237,959	—		—		—		—		—		—		—
Share-based payment expense	—	—		2.3		—		—		2.3		—		2.3
Distribution to noncontrolling interests	—	—		—		—		—		—		(0.1)		(0.1)
Repurchase and retirement of ordinary shares	(253,850)	—		(2.3)		(5.4)		—		(7.7)		—		(7.7)
Dividend declared	—	—		0.4		(14.8)		—		(14.4)		—		(14.4)
Comprehensive income:
Net income	—	—		—		31.1		—		31.1		0.8		31.9
Unrealized loss on derivatives, net of tax	—	—		—		—		(2.4)		(2.4)		—		(2.4)
Net unrealized foreign currency translation gain	—	—		—		—		6.9		6.9		—		6.9
Change in retirement benefit adjustment, net of tax	—	—		—		—		(0.3)		(0.3)		—		(0.3)
Comprehensive income										35.3		0.8		36.1
Balance as of March 28, 2025	47,924,409	$	0.5	$	605.4	$	1,446.3	$	(46.2)	$	2,006.0	$	17.0	$	2,023.0

See accompanying notes.

5

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

1.  General

Reference in this Report to “Fresh Del Monte”, “we”, “our” and “us” and the “Company” refer to Fresh Del Monte Produce Inc. and its subsidiaries, unless the context indicates otherwise.

Nature of Business

We were incorporated under the laws of the Cayman Islands in 1996. We are one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and marketer of prepared fruit and vegetables, juices, beverages and snacks in Europe, Africa and the Middle East. We market our products worldwide under the Del Monte® brand, a symbol of product innovation, quality, freshness and reliability since 1892. Our major sales markets are organized as follows: North America, Europe, the Middle East (which includes North Africa) and Asia. Our global sourcing and logistics system allows us to provide regular delivery of consistently high-quality produce and value-added services to our customers. Our major production operations are located in North, Central and South America, Asia and Africa. Our products are sourced from company-owned operations and through supply contracts with independent growers.

Our Chief Operating Decision Maker ("CODM") is our Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer ("the CODM Group"). As disclosed in Note 14, "Business Segment Data", during the quarter ended March 27, 2026, we realigned certain of our reportable segments to conform with changes of our organizational structure, including how our CODM regularly reviews the performance of, and allocates resources to, these segments. Our historical segment reporting has been recast to reflect our current organizational structure which is now comprised of four reportable segments, three of which represent our primary businesses of fresh and value-added products, banana and prepared foods, and one that represents our other ancillary businesses.

•Fresh and value-added products - includes pineapples, fresh-cut fruit, fresh-cut vegetables (which includes fresh-cut salads), melons, vegetables, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, and avocados.

•Banana

•Prepared Foods - includes prepared fruit and vegetables, juices, other beverages, and meals and snacks.

•Other products and services - includes our third-party freight and logistic services business, our Jordanian poultry and meats business and our specialty ingredients business.

Acquisition of Del Monte Foods Assets

On March 19, 2026, we completed our acquisition of select assets of Del Monte Foods Corporation II Inc. and its affiliates ("Del Monte Foods") following a court-supervised bankruptcy auction process under Section 363 of the U.S. Bankruptcy Code for consideration of $310.2 million. For additional information, see Note 3, "Acquisitions".

Basis of Presentation

The accompanying unaudited Consolidated Financial Statements for the quarter ended March 27, 2026 have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary for fair presentation have been included. Operating results for the quarter ended March 27, 2026 are subject to significant seasonal variations and are not necessarily indicative of the results that may be expected for the year ending January 1, 2027. For further information, refer to the Consolidated Financial Statements and notes thereto included in our annual report on Form 10-K for the fiscal year ended December 26, 2025.

6

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

We are required to evaluate events occurring after March 27, 2026 for recognition and disclosure in the unaudited Consolidated Financial Statements for the quarter ended March 27, 2026. Events are evaluated based on whether they represent information existing as of March 27, 2026, which require recognition in the unaudited Consolidated Financial Statements, or new events occurring after March 27, 2026 which do not require recognition but require disclosure if the event is significant to the unaudited Consolidated Financial Statements. We evaluated events occurring subsequent to March 27, 2026 through the date of issuance of these unaudited Consolidated Financial Statements.

Reclassification of Prior Period Presentation

Certain reclassifications of prior periods have been made to our Consolidated Statement of Operations and our operating cash flows within our Consolidated Statement of Cash Flows to conform to the current period presentation. These reclassifications had no effect on our balance sheet, operating and net income, or total cash flows from operating, investing, and financing activities previously presented.

2. Recently Issued Accounting Pronouncements

New Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). This ASU amends Accounting Standards Codification (ASC) 220 to require additional disclosure of certain expense information on an annual and interim basis, including but not limited to the amounts of purchases of inventory, employee compensation and depreciation and intangible asset amortization included within each income statement expense caption, as applicable. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027 with early adoption permitted. ASU 2024-03 should be applied prospectively; however, retrospective application is permitted. We are currently evaluating the impact of the adoption of this ASU on our consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"). This ASU amends ASC 350 to now require entities to commence capitalizing eligible software costs when (i) management has authorized and committed to funding the software project, and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. The new standard also supersedes the guidance related to costs incurred to develop a website. ASU 2025-06 is effective for years beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements.

3.  Acquisitions

On February 6, 2026, we entered into an Asset Purchase Agreement (the "APA") to acquire select assets of Del Monte Foods Corporation II Inc. and its affiliates ("Del Monte Foods") following a court-supervised bankruptcy auction process under Section 363 of the U.S. Bankruptcy Code which closed on March 19, 2026 (the "Closing Date"). Per the terms of the APA, we acquired (i) the prepared and packaged foods businesses of Del Monte Foods comprising canned vegetable, tomato, and refrigerated fruit business assets operated under the Del Monte®, S&W®, Contadina®, and Take Root Organics® trademarks, (ii) the bubble tea business operated under the Joyba® trademarks, (iii) four US facilities, two facilities in Mexico, and one facility in Venezuela and (iv) global ownership of the Del Monte® brand, which is subject to existing licensing arrangements across different regions and categories (the “Acquisition”). The APA also provided for the acquisition of 100% of the voting interests of Del Monte Foods Mexico and South American subsidiaries (the "Purchased Entities"), assumption of customer and supplier contracts as defined in the APA, as well as inventory at closing. The acquisition reunites the Del Monte® brand under a single owner for the first time in nearly four decades, expanding our prepared foods business and aligning with our existing fresh business under a global strategy to expand household penetration and enhance operational efficiency, flexibility, and cost structure.

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FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

On the Closing Date, we entered into Amendment No. 1 to the Asset Purchase Agreement (the “Amendment”) with Del Monte Foods. The Amendment amended the APA to, among other things, (i) provide for the inclusion of additional contracts in the Purchased Contracts and Excluded Contracts schedules; (ii) update the schedule of Del Monte Foods’ employees that were offered employment by the Company or its designee and clarify the benefits to be provided to such employees, (iii) provide for the assumption of certain additional liabilities by the Company, (iv) clarify the post-closing obligations of the parties with respect to certain intercompany loans and Purchased Entities, (v) confirm the obligations of Del Monte Foods with respect to a pre-closing cybersecurity incident, and (vi) make other non-material revisions.

The Acquisition was accounted for as a business combination under ASC 805 with a total initial purchase consideration of $310.2 million, including base cash consideration of $285.0 million which includes $25.0 million from a portion of the escrow deposit and net of other adjustments per the APA. We funded the purchase consideration using cash on hand, our existing escrow deposit and proceeds from the Company's existing 2024 Amended Credit Facility as defined and described in Note 10, "Debt and Finance Lease Obligations". Prior to the Acquisition, we held a perpetual, royalty-free license to use the Del Monte® brand for processed and/or canned food in various countries throughout Europe, Africa, the Middle East and certain Asian Countries, as well as an agreement to utilize the Del Monte® brand for certain prepared food products in North America. We previously recognized the value of these rights as indefinite-lived intangible assets with a carrying value of $31.7 million. As a result of the Acquisition, including our purchase of the rights to the Del Monte® brand in regions where we previously held royalty-free licenses, the agreements were effectively settled resulting in the fair value of the settled licenses being included in the total purchase consideration. Accordingly, when including the effect of the effective settlement, total purchase consideration for the Acquisition as determined under ASC 805 was $341.9 million.

The following table summarizes the fair values of the net assets acquired and liabilities assumed on the Closing Date. Due to the timing of the Acquisition during the quarter, we are still finalizing and reviewing the estimated fair values of the assets acquired and liabilities assumed. Accordingly, measurement period adjustments, such as those to the provisional measurements of inventory, trade names and property, plant and equipment, may be recorded as the valuation procedures are finalized which may result in a change to our fair value allocation.

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FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

	At March 19, 2026
Assets acquired
Cash and cash equivalents	$	1.5
Trade accounts receivable	4.1
Other accounts receivable	15.1
Inventories(1)	168.2
Assets held for sale	2.5
Prepaid expenses and other current assets	8.6
Property, plant and equipment (2)	120.1
Operating lease right-of-use assets	4.7
Deferred income taxes	5.8
Other noncurrent assets	0.3
Trade names	60.1
Liabilities assumed
Accounts payable and accrued expenses	13.2
Current maturities of debt and finance leases	5.4
Current maturities of operating leases	3.3
Income taxes and other taxes payable	5.8
Long-term debt and finance leases	10.7
Retirement benefits	9.3
Operating leases, less current maturities	1.4
Net assets acquired	$	341.9

(1) Includes an inventory valuation step-up of $6.2 million. The preliminary fair value was determined based on level 3 inputs which included the estimated selling price of the inventory, less the remaining estimated costs to sell such inventory at estimated normal profit margin.

(2) Includes $16.1 million of right‑of‑use assets related to the bubble tea business operated under the Joyba® trademark. Based on our decision to discontinue production of Joyba® after the Closing Date, we recorded an impairment of these right-of-use assets during the quarter ended March 27, 2026. See Note 5, "Asset Impairment and Other Charges, Net".

Intangible assets acquired

The fair value of the Del Monte®, S&W®, and Contadina® was estimated using the royalty savings method, an income approach technique that reflects the royalty expense a market participant would avoid by owning rather than licensing each brand. Key assumptions included in this measurement are forecasted revenue and cash flows attributable to each brand, the royalty rate, and discount rate. Based on our expected usage of each brand, we determined the Del Monte®, S&W®, and Contadina® brands to have indefinite useful lives.

The valuation of the trade names relied on significant unobservable inputs and are classified as level 3 fair value measurements.

Operations of Del Monte Foods Assets

Operations of the acquired Del Monte Foods assets under the APA generated approximately $24.3 million of revenue and $(16.0) million of net loss before provision for income taxes for the period from the Closing Date through March 27, 2026, inclusive of impairment charges taken on the Joyba® right-of-use assets.

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FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

During the quarter ended March 27, 2026, we incurred $3.5 million of acquisition-related costs, which primarily consist of compensatory, advisory, legal, accounting, valuation, other professional and consulting fees related to the Acquisition, and are included in the line item “Asset impairment and other charges, net” in our Consolidated Statement of Operations.

Unaudited Supplemental Pro Forma Results (in millions)

The following unaudited pro forma combined financial information presents our results including Del Monte Foods as if the business combination had occurred at the beginning of fiscal year 2025. The unaudited pro forma information is not necessarily indicative of the results that the Company would have achieved had the Acquisition actually occurred at the beginning of fiscal year 2025, nor does such information purport to be indicative of future financial operating results.

	Quarter ended
	March 27, 2026		March 28, 2025
Net sales	$	1,213.0	$	1,316.5
Net income (loss)	(19.4)		(17.5)
Net income (loss) attributable to Fresh Del Monte Produce Inc.	$	(20.1)	$	(18.3)

The unaudited pro forma results reflect certain pro forma adjustments to revenue and net income that were directly attributable to the Acquisition, assuming the transaction occurred on the beginning of fiscal year 2025, including the following:

•the recognition of incremental depreciation and amortization expense related to the fair value adjustments of acquired property, plant and equipment and identifiable intangible assets;

•the amortization of the inventory fair value adjustment of $2.3 million;

•the recognition of transaction-related costs of $5 million incurred by the Company to effectuate the Acquisition; and

•the related tax effect of the adjustments above.

Restricted Cash

At March 27, 2026 and December 26, 2025, we held $3.5 million and $28.5 million, respectively in an escrow account in connection with the Acquisition. These amounts are presented under prepaid expenses and other current assets on our Consolidated Balance Sheets.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash in our Consolidated Balance Sheets, that reconcile to the amounts shown on the Consolidated Statements of Cash Flows:

	March 27, 2026		December 26, 2025
Cash and cash equivalents	$	66.3	$	35.7
Restricted cash included in:
Prepaid expenses and other current assets	3.5		28.5
Total cash, cash equivalents and restricted cash	$	69.8	$	64.2

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FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

4. Investments in and Advances to Unconsolidated Companies

Investments in and advances to unconsolidated companies amounted to $42.7 million as of March 27, 2026 and $63.2 million as of December 26, 2025. These investments are accounted for under the equity method of accounting, and primarily relate to investments in limited partnerships and joint ventures in the food, nutrition and agricultural technology sectors. Our investments in unconsolidated companies include investments in companies who qualify as investment companies pursuant to Accounting Standards Codification Topic 946, Financial Services - Investment Companies ("ASC 946") and, accordingly, are carried at net asset value ("NAV"), which approximates fair value. Our investments in unconsolidated companies which qualify as investment companies under ASC 946, which make up approximately $32.0 million of the balance as of March 27, 2026 and $52.9 million of the balance as of December 26, 2025, cannot be redeemed, but the funds will make distributions through liquidation. The estimate of the liquidation period varies from 2027 to 2037. Total unfunded commitments related to our investments in and advances to unconsolidated companies as of March 27, 2026 were $10.6 million.

Distributions received from these investments were $29.6 million and $0.8 million for the quarters ended March 27, 2026 and March 28, 2025. The $29.6 million distribution received during the quarter ended March 27, 2026 was as a result of the January 2026 liquidation of an investment fund whose carrying value made up $23.0 million of our investments in and advances to unconsolidated companies as of December 26, 2025.

5.  Asset Impairment and Other Charges, Net

The following represents a summary of asset impairment and other charges, net recorded during the quarters ended March 27, 2026 and March 28, 2025 (U.S. dollars in millions):

	Quarter ended
	March 27, 2026						March 28, 2025
	Long-lived and other asset impairment		Exit activity and other  charges		Total		Long-lived and other asset impairment		Exit activity and other  charges		Total
Prepared segment:
Impairment of right-of-use asset (1)	$	16.1	$	—	$	16.1	$	—	$	—	$	—
Other:
Business transaction costs related to acquisition of Del Monte Foods (2)	—		3.5		3.5		—		—		—
Severance costs for transition employees related to acquisition of Del Monte Foods	—		0.4		0.4		—		—		—
Total asset impairment and other charges, net	$	16.1	$	3.9	$	20.0	$	—	$	—	$	—

(1) During the quarter ended March 27, 2026, we recorded impairment charges of $16.1 million related to right-of-use assets acquired from Del Monte Foods for product lines we do not intend to operate. See Note 3, "Acquisitions".

(2) During the quarter ended March 27, 2026, we recorded $3.5 million in business transaction costs, primarily related to transaction advisory fees, legal, consulting, and accounting expenses, related to our acquisition of Del Monte Foods. See Note 3, “Acquisitions”.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

6. Income Taxes

In connection with the examination of the tax returns in three foreign jurisdictions, the taxing authorities have issued income tax deficiencies related to transfer pricing aggregating approximately $272.5 million (including interest and penalties) for tax years 2012 through 2021. We strongly disagree with the proposed adjustments and have filed a protest with each of the taxing authorities.

In one foreign jurisdiction, we are currently contesting tax assessments related to the 2012-2015 audit years and the 2016 audit year in both the administrative court and the judicial court. During 2019 and 2020, we filed actions contesting the tax assessment in the administrative office. Our initial challenge to each of these tax assessments was rejected, and we subsequently lost our appeals at the administrative court. We have subsequently filed actions to contest each of these tax assessments in the country’s judicial courts. In addition, we have filed a request for injunction to the judicial court to stay the tax authorities' collection efforts for these two tax assessments, pending final judicial decisions. The court granted our injunction with respect to the 2016 audit year, however denied our injunction with respect to the 2012-2015 audit years. We timely appealed the denial of the injunction, and on August 10, 2022 the appellate court overturned the denial and granted our injunction for the 2012-2015 audit years with a trial date set for July 4, 2025. During June 2025, we were notified of the hearing being suspended until further notice due to a pending constitutional remedy affecting a rule included in the arguments. Pursuant to local law, we registered real estate collateral with an approximate fair market value of $7.9 million in connection with the grant of the 2016 audit year injunction. This real estate collateral has a net book value of $3.8 million as of the quarter ended March 27, 2026. In addition, in connection with the grant of the 2012-2015 audit year injunction, we registered real estate collateral with an approximate fair market value of $32.9 million, and a net book value of $4.6 million as of the quarter ended March 27, 2026. The registration of this real estate collateral does not affect our operations in the country.

In the second foreign jurisdiction, the administrative court denied our appeal, and on March 4, 2020 we filed an action in the judicial court to contest the administrative court's decision. The case is still pending.

In the third foreign jurisdiction, we received tax assessments related to the 2018-2021 audit years. We filed objections contesting these assessments and subsequently initiated appeals. On January 16, 2026, the Company received an unfavorable decision related to the appeals. On February 9, 2026, we filed an action to pursue further appeal through the applicable appellate forum. The case remains pending.

We will continue to vigorously contest the adjustments and intend to exhaust all administrative and judicial remedies necessary in both jurisdictions to resolve the matters, which could be a lengthy process.

We regularly assess the likelihood of adverse outcomes resulting from examinations such as these to determine the adequacy of our tax reserves. Accordingly, we have not accrued any additional amounts based upon the proposed adjustments. There can be no assurance that these matters will be resolved in our favor, and an adverse outcome of either matter, or any future tax examinations involving similar assertions, could have a material effect on our financial condition, results of operations and cash flows.

Additionally, the European Union (EU) Member States formally adopted the EU’s Pillar Two Directive, which generally provides for a minimum effective tax rate of 15%, as established by the Organization for Economic Co-operation and Development (OECD) Pillar Two Framework. Pursuant to the implementation dates prescribed in the Directive, the rules became effective for the Company for the 2025 fiscal year. We have evaluated the impact of the global minimum tax rules under Pillar Two for the current interim period. The effect of Pillar Two has been reflected in our estimated annual effective tax rate used to determine income tax expense in accordance with ASC 740 for the quarter ended March 27, 2026.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. We are continuing to assess its impact on our consolidated financial statements.

Income tax provision was $7.8 million for the quarter ended March 27, 2026 compared with $6.9 million for the quarter ended March 28, 2025. The increase is primarily due to increased earnings in certain higher tax jurisdictions. In addition, the increase also reflects the impact of the implementation of global minimum tax rules under Pillar Two.

12

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

7.  Allowance for Credit Losses

We estimate expected credit losses on our trade receivables and financing receivables in accordance with Accounting Standards Codification (“ASC”) 326 - Financial Instruments - Credit Losses.

Trade Receivables

Trade receivables as of March 27, 2026 were $434.3 million, net of allowances of $36.4 million. Our allowance for trade receivables consists of two components: a $16.4 million allowance for credit losses and a $19.7 million allowance for customer claims accounted for under the scope of ASC 606 - Revenue Recognition.

As a result of our robust credit monitoring practices, the industry in which we operate, and the nature of our customer base, the credit losses associated with our trade receivables have historically been insignificant in comparison to our annual net sales. We measure the allowance for credit losses on trade receivables on a collective (pool) basis when similar risk characteristics exist. We generally pool our trade receivables based on the geographic region or country to which the receivables relate. Receivables that do not share similar risk characteristics are evaluated for collectability on an individual basis.

Our historical credit loss experience provides the basis for our estimation of expected credit losses. We generally use a three-year average annual loss rate as a starting point for our estimation, and make adjustments to the historical loss rate to account for differences in current conditions impacting the collectability of our receivable pools. We generally monitor macroeconomic indicators to assess whether adjustments are necessary to reflect current conditions.

The table below presents a rollforward of our trade receivable allowance for credit losses for the quarters ended March 27, 2026 and March 28, 2025 (U.S. dollars in millions):

	Quarter ended
Trade receivables	March 27, 2026		March 28, 2025
Allowance for credit losses:
Balance, beginning of period	$	16.8	$	11.5
Provision for uncollectible amounts	—		0.6
Deductions to allowance related to write-offs	(0.1)		(0.4)
Recoveries of amounts previously allowed for	(0.2)		(0.2)
Foreign exchange effects	(0.1)		0.1
Balance, end of period	$	16.4	$	11.6

Financing Receivables

Financing receivables are included in other accounts receivable, net on our Consolidated Balance Sheets and are recognized at amortized cost less an allowance for estimated credit losses. Financing receivables include seasonal advances to growers and suppliers, which are usually short-term in nature, and other financing receivables.

A significant portion of the fresh produce we sell is acquired through supply contracts with independent growers. In order to ensure the consistent high quality of our products and packaging, we make advances to independent growers and suppliers. These growers and suppliers typically sell all of their production to us and make payments on their advances as a deduction to the agreed upon selling price of the fruit or packaging material. The majority of the advances to growers and suppliers are for terms less than one year and typically span a growing season. In certain cases, there may be longer term advances with terms of up to ten years.

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FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

We measure the allowance for credit losses on advances to suppliers and growers on a collective (pool) basis when similar risk characteristics exist. We generally pool our advances based on the country to which they relate, and further disaggregate them based on their current or past-due status. We generally consider an advance to a grower to be past due when the advance is not fully paid within the respective growing season. The allowance for advances to growers and suppliers that do not share similar risk characteristics are determined on a case-by-case basis, depending on the expected production for the season and other contributing factors. The advances are typically collateralized by property liens and pledges of the respective season’s produce. Occasionally, we agree to a payment plan with these growers or take steps to recover the advance via established collateral. We may write-off uncollectible financing receivables after our collection efforts are exhausted.

Our historical credit loss experience provides the basis for our estimation of expected credit losses. We generally use a three-year average annual loss rate as a starting point for our estimation, and make adjustments to the historical loss rate to account for differences in current or expected future conditions. We generally monitor macroeconomic indicators as well as other factors, including unfavorable weather conditions and crop diseases, which may impact the collectability of the advances when assessing whether adjustments to the historical loss rate are necessary.

The following table details the advances to growers and suppliers based on their credit risk profile (U.S. dollars in millions):

	March 27, 2026				December 26, 2025
	Current		Past-Due		Current		Past-Due
Gross advances to growers and suppliers	$	15.0	$	20.8	$	10.7	$	22.3

The allowance for advances to growers and suppliers for the quarters ended March 27, 2026 and March 28, 2025 were as follows (U.S. dollars in millions):

	Quarter ended
	March 27, 2026		March 28, 2025
Allowance for advances to growers and suppliers:
Balance, beginning of period	$	27.1	$	12.1
Provision for uncollectible amounts	0.1		1.4
Balance, end of period	$	27.2	$	13.5

8.  Share-Based Compensation

We maintain various compensation plans for officers, other employees, and non-employee members of our Board of Directors. On June 2, 2022, our shareholders approved and ratified the 2022 Omnibus Share Incentive Plan (the “2022 Plan”). The 2022 Plan allows us to grant equity-based compensation awards including restricted stock units (“RSUs”), performance stock units (“PSUs”), stock options, and restricted stock awards. The 2022 Plan replaces and supersedes the 2014 Omnibus Share Incentive Plan (the “Prior Plan”). No awards can be granted under the Prior Plan upon adoption of the 2022 Plan. Under the 2022 Plan, the Board of Directors is authorized to award up to (i) 2,800,000 ordinary shares plus (ii) any ordinary shares remaining available for future awards under the Prior Plan at the time of adoption (of which there were approximately 241,263) plus (iii) any ordinary shares with respect to awards and Prior Plan awards that are forfeited, canceled, expire unexercised, or are settled in cash following adoption of the 2022 Plan.

Share-based compensation expense related to RSUs and PSUs is included in selling, general and administrative expenses in the accompanying Consolidated Statements of Operations and was comprised in the relevant periods as follows (U.S. dollars in millions): 

	Quarter ended
	March 27, 2026		March 28, 2025
RSUs/PSUs	$	2.5	$	2.3

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FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

Restricted Stock Units and Performance Stock Units

The following table lists the RSUs and PSUs awarded under the 2022 Plan during the quarters ended March 27, 2026 and March 28, 2025:

Date of Award	Type of award	Units awarded	Price per share
For the quarter ended March 27, 2026
March 2, 2026	RSU	214,923	$	43.02
For the quarter ended March 28, 2025
March 3, 2025	PSU	126,495	$	30.27
March 3, 2025	RSU	287,426	$	30.27

Under the 2022 Plan and Prior Plan, each RSU/PSU represents a contingent right to receive one of our ordinary shares. The PSUs are subject to meeting minimum performance criteria set by the Compensation Committee of our Board of Directors. The actual number of shares the recipient receives is determined based on the results achieved versus performance goals. Those performance goals are based on exceeding a measure of our earnings. Depending on the results achieved, the actual number of shares that an award recipient receives at the end of the period may range from 0% to 100% of the award units granted, or as it relates to the 2025, 2024 and 2023 PSU awards granted to our Chairman and Chief Executive Officer, 0% to 125% of the award units granted. Provided such criteria are met, the PSUs will vest in three equal annual installments on each of the next three anniversary dates provided that the recipient remains employed with us.

Expense for RSUs is recognized on a straight-line basis over the requisite service period for the entire award. RSUs vest annually in three equal installments over a three-year service period. RSUs granted to our Board of Directors generally vest after a one-year period.

The fair market value for RSUs and PSUs is based on the closing price of our stock on the grant date. We recognize expenses related to RSUs and PSUs based on the fair market value, as determined on the grant date, ratably over the vesting period, provided the performance condition, if any, is probable. Forfeitures are recognized as they occur.

RSUs and PSUs do not have the voting rights of ordinary shares, and the shares underlying the RSUs and PSUs are not considered issued and outstanding. However, shares underlying RSUs/PSUs are included in the calculation of diluted earnings per share to the extent the performance criteria are met, if any.

Each of our outstanding RSUs and PSUs are eligible to earn Dividend Equivalent Units (“DEUs”) equal to the cash dividend paid to ordinary shareholders. DEUs are subject to the same performance and/or service conditions as the underlying RSUs and PSUs and are forfeitable.

9.  Inventories, net

Inventories consisted of the following (U.S. dollars in millions):

	March 27, 2026		December 26, 2025
Finished goods	$	311.2	$	185.0
Raw materials and packaging supplies	161.4		156.3
Growing crops	255.8		240.6
Total inventories, net	$	728.4	$	581.9

15

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

10.  Debt and Finance Lease Obligations

The following is a summary of long-term debt and finance lease obligations (U.S. dollars in millions):

 

	March 27, 2026		December 26, 2025
Senior unsecured revolving credit facility (see Credit Facility below)	$	438.0	$	173.0
Finance lease obligations	20.5		4.7
Total debt and finance lease obligations	458.5		177.7
Less:  Current maturities	(7.0)		(1.5)
Long-term debt and finance lease obligations	$	451.5	$	176.2

Credit Facility

On October 1, 2019, we entered into a Second Amended and Restated Credit Agreement (as amended, the “Second A&R Credit Agreement”) with Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner and certain other lenders. The Second A&R Credit Agreement provided for a five-year, $0.9 billion syndicated senior unsecured revolving credit facility maturing on October 1, 2024. The Second A&R Credit Agreement was subsequently amended on December 30, 2022, to replace the Eurocurrency Rate with the Term Secured Overnight Financing Rate ("Term SOFR" effective January 3, 2023.

On February 21, 2024, we entered into Amendment No. 2 to the Second Amended and Restated Credit Agreement (the “2024 Amended Credit Facility”) with Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner and certain other lenders. The 2024 Amended Credit Facility provides for a five-year, $0.75 billion syndicated senior unsecured revolving credit facility maturing on February 21, 2029. Amounts borrowed under the revolving credit facility accrue interest at a rate equal to the Term SOFR rate plus a margin that ranges from 1.0% to 1.625% based on our Consolidated Leverage Ratio (as defined in the 2024 Amended Credit Facility). The 2024 Amended Credit Facility also permits, under certain conditions, $200 million of Permitted Receivables Financing (as defined in the 2024 Amended Credit Facility). In addition, we pay a fee on unused commitments at a rate equal to 0.150% to 0.250% based on our Consolidated Leverage Ratio.

The 2024 Amended Credit Facility provides for an accordion feature that permits us, without the consent of the other lenders, to request that one or more lenders provide us with increases in revolving credit facility or term loans up to an aggregate of $300 million (“Incremental Increases”). The aggregate amount of Incremental Increases can be further increased to the extent that after giving effect to the proposed increase in revolving credit facility commitments or term loans our Consolidated Leverage Ratio, on a pro forma basis, would not exceed 2.75 to 1.00. Our ability to request such increases or term loans is subject to our compliance with customary conditions set forth in the 2024 Amended Credit Facility including compliance, on a pro forma basis, with certain financial covenants and ratios. Upon our request, each lender may decide, in its sole discretion, whether to increase all or a portion of its revolving credit facility commitment or provide term loans.

The 2024 Amended Credit Facility contains similar financial covenants to those included within the Second A&R Credit Agreement. Specifically, it requires us to maintain 1) a Consolidated Leverage Ratio of not more than 3.75 to 1.00 at any time during any period of four consecutive fiscal quarters, subject to certain exceptions and 2) minimum Consolidated Interest Coverage Ratio of not less than 2.25 to 1.00 as of the end of any fiscal quarter. As a result of our March 19, 2026 acquisition of select assets of Del Monte Foods meeting the definition of a Permitted Acquisition as defined in the 2024 Amended Credit Facility, the Consolidated Leverage Ratio required to be maintained was increased to not exceed 4.25 to 1.00 as of the end of the quarter ended March 27, 2026 and will remain at that level for the succeeding three fiscal quarters.

16

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

Additionally, it requires us to comply with certain other covenants, including limitations on capital investments, the amount of dividends that can be paid in the future, the amounts and types of liens and indebtedness, material asset sales, and mergers. Under the 2024 Amended Credit Facility, we are permitted to declare or pay cash dividends in any fiscal year up to an amount that does not exceed the greater of (i) an amount equal to (1) the greater of (A) 50% of the Consolidated Net Income (as defined in the 2024 Amended Credit Facility) for the immediately preceding fiscal year or (B) $25 million (the "Base Dividend Basket") plus (2) commencing in the fiscal year ending December 26, 2025 any portion of the Base Dividend Basket not used in the immediately preceding fiscal year, or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis as of the date of declaration or payment) to exceed 3.50 to 1.00. It also provides an allowance for stock repurchases to be an amount not exceeding the greater of (i) (A) $50,000,000 (the "Base Redemption Basket") plus (B) commencing in the fiscal year ending December 26, 2025, any portion of the Base Redemption Basket not used in the immediately preceding fiscal year or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis as of the date of such repurchase) to exceed 3.50 to 1.00. As of March 27, 2026, we were in compliance with all the covenants contained in the 2024 Amended Credit Facility.

In connection with the 2024 Amended Credit Facility, we paid lender and third-party fees of $2.2 million associated with the amendment. We concluded that the amendment resulted in a modification of debt and as such, determined that debt issuance costs incurred in connection with the 2024 Amended Credit Facility would be deferred and amortized over the term of the new arrangement. Debt issuance costs of $1.2 million and $1.3 million are included in other noncurrent assets on our Consolidated Balance Sheets as of March 27, 2026 and December 26, 2025, respectively.

The following is a summary of the material terms of the 2024 Amended Credit Facility and other working capital facilities at March 27, 2026 (U.S. dollars in millions):

	Term	Maturity date	Interest rate	Borrowing limit		Available borrowings, net of letters of credit and bank guarantees
Bank of America credit facility	5 years	February 21, 2029	4.78%	$	750.0	$	312.0
Rabobank letter of credit facility	364 days	June 12, 2026	Varies	25.0		14.3
Other working capital facilities	Varies	Varies	Varies	20.9		10.0
				$	795.9	$	336.3

The margin for Term SOFR advances as of March 27, 2026 was 1.000%. We intend to use funds borrowed under the 2024 Amended Credit Facility from time to time for general corporate purposes, which may include working capital needs, capital expenditures, funding of possible acquisitions, share repurchases, and satisfaction of other obligations.

As of March 27, 2026, we applied $31.6 million to letters of credit and bank guarantees issued from Rabobank Nederland, Bank of America, and other banks.

During 2018, we entered into interest rate swaps in order to hedge the risk of the fluctuation on future interest payments related to our variable rate borrowings from our revolving credit facility. During July 2024, outstanding interest rate swaps previously used to hedge the risk of fluctuation on future interest payments reached maturity or were terminated. Refer to Note 15, “Derivative Financial Instruments.”

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FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

11.  Commitments and Contingencies

Kunia Well Site

In 1980, elevated levels of certain chemicals were detected in the soil and ground-water at a plantation leased by one of our U.S. subsidiaries in Honolulu, Hawaii (the “Kunia Well Site”). In 2005, our subsidiary signed a Consent Decree (“Consent Decree”) with the Environmental Protection Agency (“EPA”) for the performance of the clean-up work for the Kunia Well Site. Based on findings from remedial investigations, our subsidiary coordinated with the EPA to evaluate the clean-up work required in accordance with the Consent Decree. On July 25, 2022, an Explanation of Significant Differences (ESD) for the Kunia Well Site was filed by the EPA, which formally transitioned the remedy for the Kunia Well Site to a Monitored Natural Attenuation (MNA), thereby reducing our potential liability.

The revised estimate associated with the clean-up costs, and on which our accrual is based, is $3.2 million. As of March 27, 2026, $2.7 million was included in other noncurrent liabilities, and $0.5 million was included in accounts payable and accrued expenses in the Consolidated Balance Sheets for the Kunia Well Site clean-up. We expect to expend approximately $0.5 million in 2026, $0.2 million in 2027, $0.2 million in 2028, $0.1 million in 2029, and $0.3 million in 2030.

Value Added Tax ("VAT") Receivables

In connection with administrative delays in a jurisdiction in which we operate, we have incurred delays in the collection of VAT refund claims made by the Company. As a result of those delays, as of March 27, 2026 we have classified $20.5 million of VAT receivables related to the jurisdiction as non-current assets which are included in other noncurrent assets in our Consolidated Balance Sheets. While we believe the amounts are collectible through standard administrative processes, these amounts may ultimately need to be recovered through administrative appeals or other legal means.

Additional Information

In addition to the foregoing, we are involved from time to time in various claims and legal actions incident to our operations, both as plaintiff and defendant. In the opinion of management, after consulting with legal counsel, none of these other claims is currently expected to have a material adverse effect on the results of operations, financial position or our cash flows.

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FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

12.  Earnings Per Share

Basic and diluted net income per ordinary share is calculated as follows (U.S. dollars in millions, except share and per share data):

	Quarter ended
	March 27, 2026		March 28, 2025
Numerator:
Net income attributable to Fresh Del Monte Produce Inc.	$	10.0	$	31.1
Denominator:
Weighted average number of ordinary shares - Basic	47,449,871		47,956,338
Effect of dilutive securities - share-based awards	419,584		312,282
Weighted average number of ordinary shares - Diluted	47,869,455		48,268,620
Antidilutive awards (1)	60,464		—
Net income per ordinary share attributable to Fresh Del Monte Produce Inc.:
Basic	$	0.21	$	0.65
Diluted	$	0.21	$	0.64

(1)Certain unvested RSUs and PSUs are not included in the calculation of net income per ordinary share because the effect would have been antidilutive.

13.  Retirement and Other Employee Benefits

The following table sets forth the net periodic benefit costs of our defined benefit pension plans and post-retirement benefit plans (U.S. dollars in millions):

	Quarter ended
	March 27, 2026		March 28, 2025
Service cost	$	1.9	$	1.6
Interest cost	1.9		1.9
Expected return on assets	(0.7)		(0.8)
Amortization of net actuarial loss	0.1		0.1
Net periodic benefit costs	$	3.2	$	2.8

We provide certain other retirement benefits to certain employees who are not U.S.-based and are not included above. Generally, benefits under these programs are based on an employee’s length of service and level of compensation. These programs are immaterial to our consolidated financial statements. The net periodic benefit costs related to other non-U.S. based plans is $0.6 million for the quarter ended March 27, 2026 and $0.5 million for the quarter ended March 28, 2025.

Service costs are presented in the same line item in the Consolidated Statements of Operations as other compensation costs arising from services rendered by the employees during the period. With the exception of service cost, the other components of net periodic benefit costs (which include interest costs, expected return on assets, curtailment and settlement expenses, and amortization of net actuarial losses) are recorded in the Consolidated Statements of Operations in other expense, net.

19

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

14.  Business Segment Data

During the quarter ended March 27, 2026, we realigned our reportable segments for financial reporting purposes to reflect changes in how we monitor business performance and allocate resources, including changes as a result of our acquisition of Del Monte Foods described in Note 3, "Acquisitions". The change resulted in our internal reporting breaking out the results of our prepared foods business, which includes prepared fruit and vegetables, juices, other beverages, and meals and snacks, which was previously reported as a part of our fresh and value-added products reportable segment. The change in our reportable segments did not result in a change to our reporting units for purposes of goodwill impairment testing. Prior period amounts have been recast to conform to the current period presentation.

As a result of the realignment noted above, our business is now comprised of four reportable segments, three of which represent our primary businesses of fresh and value-added products, prepared foods, and banana, and one that represents our other ancillary businesses.

•Fresh and value-added products - includes pineapples, fresh-cut fruit, fresh-cut vegetables (which includes fresh-cut salads), melons, vegetables, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, and avocados.

•Banana

•Prepared Foods - includes prepared fruit and vegetables, juices, other beverages, and meals and snacks

•Other products and services - includes our third-party freight and logistic services business, our Jordanian poultry and meats business and our specialty ingredients business.

The CODM Group uses segment gross profit, calculated as net sales less cost of products sold, as the primary measure in assessing segment performance and determining allocation of resources, with these determinations generally made as part of our annual budgeting process. Reviews of segment performance by the CODM Group occur regularly throughout the year, including monthly review of budget-to-actual results, which can result in allocation changes if deemed appropriate. The following table provides information by reportable segment, including net sales, cost of products sold and gross profit (U.S. dollars in millions):

 

	Quarter ended
	March 27, 2026						March 28, 2025
Segments:	Net Sales		Cost of products sold		Gross Profit		Net Sales		Cost of products sold		Gross Profit
Fresh and value-added products	$	549.0	$	489.2	$	59.8	$	612.3	$	553.3	$	59.0
Banana	357.1		340.6		16.5		363.8		347.0		16.8
Prepared foods	82.5		73.6		8.9		70.9		60.6		10.3
Other products and services	55.5		51.7		3.8		51.4		45.3		6.1
Total	$	1,044.1	$	955.1	$	89.0	$	1,098.4	$	1,006.2	$	92.2

20

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

The following table indicates our net sales by geographic region (U.S. dollars in millions):

	Quarter ended
Net sales by geographic region:	March 27, 2026		March 28, 2025
North America	$	593.5	$	646.8
Europe	234.9		221.7
Middle East	101.9		106.4
Asia	79.9		89.4
Other	33.9		34.1
Total	$	1,044.1	$	1,098.4

The following table indicates our net sales by product (U.S. dollars in millions) and, in each case, the percentage of the total represented thereby:

	Quarter ended
	March 27, 2026				March 28, 2025
Fresh and value-added products:
Fresh-cut fruit	$	130.4	13	%	$	130.1	12	%
Fresh-cut vegetables	33.8		3	%	68.2		6	%
Pineapples	167.8		16	%	161.9		15	%
Avocados	72.6		7	%	106.7		10	%
Non-tropical fruit	56.5		5	%	51.6		5	%
Melons	58.8		6	%	54.8		5	%
Vegetables	5.8		1	%	15.7		1	%
Other fruit and vegetables	23.3		2	%	23.3		2	%
Total fresh and value-added products	549.0		53	%	612.3		56	%
Banana	357.1		34	%	363.8		33	%
Prepared foods	82.5		8	%	70.9		6	%
Other products and services	55.5		5	%	51.4		5	%
Total	$	1,044.1	100	%	$	1,098.4	100	%

21

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

The following tables indicate our (i) property, plant, and equipment, net by location and (ii) total assets by location (U.S. dollars in millions):

Property, plant and equipment, net:	March 27, 2026		December 26, 2025
North America	$	220.1	$	122.9
Europe	28.8		29.2
Middle East	46.4		47.2
Africa	39.0		38.2
Asia	44.4		46.2
Central America	629.4		626.0
South America	45.1		44.5
Maritime equipment (including containers)	158.1		160.2
Corporate	5.5		5.1
Total property, plant and equipment, net	$	1,216.8	$	1,119.5

Total assets:	March 27, 2026		December 26, 2025
North America	$	943.6	$	624.7
Europe	380.7		350.3
Middle East	213.0		214.1
Africa	167.9		161.2
Asia	166.3		163.8
Central America	1,087.9		1,082.7
South America	117.6		105.2
Maritime equipment (including containers)	175.7		176.0
Corporate	149.7		181.0
Total assets	$	3,402.4	$	3,059.0

Management reviews assets on the basis of geographic region and not by reportable segment, which more closely aligns our capital investment with demand for our products. Costa Rica is our most significant sourcing location and represented approximately 38% of our property, plant and equipment as of March 27, 2026. Excluding the U.S., no other country other than Costa Rica accounted for greater than 10% of our property, plant and equipment as of March 27, 2026 and December 26, 2025.

Total assets by geographic area represent those assets used in the operations of each geographic area.

15.  Derivative Financial Instruments

Our derivative financial instruments reduce our exposure to fluctuations in foreign exchange rates and variable interest rates. We designate our derivative financial instruments as cash flow hedges.

Counterparties expose us to credit loss in the event of non-performance of hedges. We monitor our exposure to counterparty non-performance risk both at inception of the hedge and at least quarterly thereafter.

Fluctuations in the value of the derivative instruments are generally offset by changes in the cash flows of the underlying exposures being hedged. A cash flow hedge requires the change in the fair value of a derivative instrument to be recognized in other comprehensive income, a component of shareholders’ equity, and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item.

22

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

Certain of our derivative instruments contain provisions that require the current credit relationship between us and our counterparty to be maintained throughout the term of the derivative instruments. If that credit relationship changes, certain provisions could be triggered, and the counterparty could request immediate collateralization of derivative instruments in a net liability position above a certain threshold. The aggregate fair value of all derivative instruments with a credit-risk-related contingent feature that were in a liability position on March 27, 2026 was $0.3 million. As of March 27, 2026, no triggering event had occurred and thus we were not required to post collateral.

Derivative instruments are disclosed on a gross basis. There are various rights of setoff associated with our derivative instruments that are subject to an enforceable master netting arrangement or similar agreements. Although various rights of setoff and master netting arrangements or similar agreements may exist with the individual counterparties, individually, these financial rights are not material.

Cash flows from derivative instruments that are designated as cash flow hedges are classified in the same category as the cash flows from the underlying hedged items. In the event that hedge accounting is discontinued, cash flows related to changes in fair value subsequent to the date of discontinuance are classified within investing activities. 

Foreign Currency Hedges

Our results of operations and financial condition are exposed to fluctuations in currency exchange rates against the U.S. dollar, and we may mitigate that exposure by entering into foreign currency forward or collar contracts. Certain of our subsidiaries periodically enter into foreign currency forward contracts in order to hedge portions of forecasted sales or cost of sales denominated in foreign currencies, which generally mature within one year. At March 27, 2026, our foreign currency forward contracts hedge a portion of our 2026 foreign currency exposure.

The foreign currency forward contracts qualifying as cash flow hedges were designated as single-purpose cash flow hedges of forecasted cash flows. 

We had the following outstanding foreign currency contracts as of March 27, 2026 (in millions):

Foreign currency contracts qualifying as cash flow hedges:	Notional amount
Euro	EUR	292.5
Chilean peso	CLP	15,056.2
Kenyan shilling	KES	2,992.0

Interest Rate Contracts

Our results of operations and financial condition are exposed to fluctuations in variable interest rates, and we previously mitigated that exposure by entering into interest rate swaps. During 2018, we entered into interest rate swaps in order to hedge the risk of the fluctuation on future interest payments related to our variable rate LIBOR-based borrowings through 2028. We amended our Second A&R Credit Agreement and our interest rate swaps to transition from LIBOR to SOFR as a reference rate effective January 3, 2023.

In July 2024, we agreed to terminate our outstanding interest rate swap in exchange for $7.3 million in cash proceeds, net of fees of approximately $0.2 million. Based on our assessment that the originally hedged cash flows associated with our variable rate borrowings remain probable, the proceeds received as a result of the termination of our outstanding interest rate swap agreement will remain in accumulated other comprehensive loss and be reclassified to earnings through interest expense over the remaining life of the hedged debt. At March 27, 2026, $2.4 million in accumulated other comprehensive loss related to the terminated interest rate swap, of which $1.1 million is expected to be reclassified to earnings through interest expense over the next twelve months.

23

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

The following table reflects the fair values of derivative instruments, which are designated as level 2 in the fair value hierarchy, as of March 27, 2026 and December 26, 2025 (U.S. dollars in millions):

	Foreign exchange contracts (1)
Balance Sheet location:	March 27, 2026		December 26, 2025
Asset derivatives:
Prepaid expenses and other current assets	$	8.2	$	0.4
Liability derivatives:
Accounts payable and accrued expenses	$	0.3	$	1.4

(1) See Note 16, “Fair Value Measurements,” for fair value disclosures.

As of March 27, 2026, we expect that $9.0 million of the net fair value of our cash flow hedges recognized as a net gain in accumulated other comprehensive loss, inclusive of amounts associated with our interest rate swap terminated during the quarter ended June 28, 2024, will be transferred to earnings during the next 12 months, and the remaining net gain of $1.3 million over the following 2 years, along with the earnings effect of the related forecasted transactions.

The following table reflects the effect of derivative instruments on the Consolidated Statements of Comprehensive Income for the quarters ended March 27, 2026 and March 28, 2025 (U.S. dollars in millions):

	Net amount of gain (loss) recognized in other comprehensive income on derivatives
	Quarter ended
Derivative instruments	March 27, 2026		March 28, 2025
Foreign exchange contracts	$	8.7	$	(1.5)
Interest rate swaps, net of tax	(0.4)		(0.9)
Total	$	8.3	$	(2.4)

Refer to Note 17, “Accumulated Other Comprehensive Loss” for the effect of derivative instruments on the Consolidated Statements of Operations related to amounts reclassified from accumulated other comprehensive loss for the quarters ended March 27, 2026 and March 28, 2025.

16.  Fair Value Measurements

Fair Value of Derivative Instruments

Our derivative assets or liabilities include foreign exchange that are measured at fair value using observable market inputs such as forward rates, interest rates, and our own credit risk as well as an evaluation of our counterparties' credit risks. We use an income approach to value our outstanding foreign currency and interest rate hedges, which consists of a discounted cash flow model that takes into account the present value of future cash flows under the terms of the contract using current market information as of the measurement date such as foreign currency spot rates, forward rates and interest rates. Additionally, we include an element of default risk based on observable inputs into the fair value calculation. Based on these inputs, the derivative assets or liabilities are classified within Level 2 of the valuation hierarchy.

24

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

The following table provides a summary of the fair values of our derivative financial instruments measured on a recurring basis (U.S. dollars in millions): 

	Foreign currency forward contracts, net asset (liability)
	March 27, 2026		December 26, 2025
Quoted prices in active markets for identical assets (Level 1)	$	—	$	—
Significant observable inputs (Level 2)	7.9		(1.0)
Significant unobservable inputs (Level 3)	—		—

In estimating our fair value disclosures for financial instruments, we use the following methods and assumptions:

Cash and cash equivalents: The carrying amount reported in the Consolidated Balance Sheets for these items approximates fair value due to their liquid nature and are classified as Level 1.

Trade accounts receivable and other accounts receivable, net: The carrying value reported in the Consolidated Balance Sheets for these items is net of allowances, which includes a degree of counterparty non-performance risk and are classified as Level 2.

Accounts payable and other current liabilities: The carrying value reported in the Consolidated Balance Sheets for these items approximates their fair value, which is the likely amount for which the liability with short settlement periods would be transferred to a market participant with a similar credit standing as ours and are classified as Level 2.

Long-term debt: The carrying value of our long-term debt reported in the Consolidated Balance Sheets approximates their fair value since they bear interest at variable rates which contain an element of default risk. The fair value of our long-term debt is estimated using Level 2 inputs based on quoted prices for those or similar instruments. Refer to Note 10, “Debt and Finance Lease Obligations.”

Divestiture of Mann Packing

During the fourth quarter of 2025, we completed the divestiture of the Mann Packing business. The transaction did not meet the criteria for classification as a discontinued operation under ASC 205‑20, as it did not represent a strategic shift that has or will have a major effect on the Company’s operations or financial results. As a result of the closing of the transaction, we recorded $31.3 million of receivables related to proceeds under the Mann Divestiture Agreement, including $17.6 million included in Other accounts receivable, net and $13.7 million, net of a present value discount of $4.3 million, included in Other noncurrent assets in our Consolidated Balance Sheet as of December 26, 2025. Loss before income taxes for this individually significant component was $8.6 million for the quarter ended March 28, 2025. In connection with our divestiture of the Mann Packing business during the fourth quarter of 2025, we entered into a five-year lease as lessor for our Gonzales, California processing facility commencing in December 2025. The lease provides the lessee the option to renew the lease for an additional five-year term as well as a purchase option which can be exercised annually as described in the lease agreement.

Fair Value of Non-Financial Assets

The fair value of the banana reporting unit's goodwill and the prepared food reporting unit's goodwill and trade names and trademarks are sensitive to differences between estimated and actual cash flows and changes in the related discount rate used to evaluate the fair value of these assets. We disclosed the sensitivity related to the banana reporting unit's goodwill and the prepared food reporting unit's goodwill and trade names and trademarks in our notes to the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 26, 2025. Our current estimates of future cash flows depend on our ability to demonstrate successful implementation of our strategies to improve sales and profitability from these activities over the upcoming quarters. If we are unable to demonstrate successful implementation of these strategies, it could lead to impairment of some or all of these assets. To the extent that future developments result in cash flows that are less than currently estimated levels, including as a result of an inability to successfully implement our strategies to improve sales and profitability of the related activities, it could lead to impairment of these assets.

25

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

Assets held for sale, which had a carrying amount of $14.9 million as of March 27, 2026, primarily consisted of $7.3 million related to idle farmland in Italy, $3.1 million related to farmland in Chile, $2.5 million related to facilities in North America, and $2.0 million related to facilities and farmland in Central America. These assets are recognized at the lower of cost or fair value less cost to sell.

During the quarter ended March 27, 2026, we received proceeds of $2.2 million from the sale of assets previously held for sale. As a result, we recorded a gain on disposal of property, plant and equipment, net of $2.1 million for the quarter ended March 27, 2026.

We recorded asset impairment and other charges during the quarter ended March 27, 2026 that do not fall under the scope of fair value measurement. Refer to Note 5, "Asset Impairment and Other Charges, Net".

17.  Accumulated Other Comprehensive Loss

The following table includes the changes in accumulated other comprehensive loss by component (U.S. dollars in millions): 

	Changes in Accumulated Other Comprehensive Loss by Component (1)
	Cash Flow Hedges		Foreign Currency Translation Adjustment			Retirement Benefit Adjustment		Total
	Quarter ended March 27, 2026
Balance at December 26, 2025	$	1.9	$	(24.8)		$	(15.3)	$	(38.2)
Other comprehensive (loss) income before reclassifications	9.7		(4.7)		(2)	0.4		5.4
Amounts reclassified from accumulated other comprehensive (loss) income	(1.3)		—			0.2		(1.1)
Net current period other comprehensive income (loss)	8.4		(4.7)			0.6		4.3
Balance at March 27, 2026	$	10.3	$	(29.5)		$	(14.7)	$	(33.9)
	Quarter ended March 28, 2025
Balance at December 27, 2024	$	5.6	$	(45.2)		$	(10.8)	$	(50.4)
Other comprehensive income (loss) before reclassifications	(3.6)		6.9		(2)	(0.4)		2.9
Amounts reclassified from accumulated other comprehensive loss	1.2		—			0.1		1.3
Net current period other comprehensive income (loss)	(2.4)		6.9			(0.3)		4.2
Balance at March 28, 2025	$	3.2	$	(38.3)		$	(11.1)	$	(46.2)

(1) All amounts are net of tax and noncontrolling interest.

(2) Includes a loss of $2.3 million and a gain of $3.5 million for the quarters ended March 27, 2026 and March 28, 2025, respectively, on intra-entity foreign currency transactions that are of a long-term-investment nature.

26

FRESH DEL MONTE PRODUCE INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (Unaudited)

The following table includes details about amounts reclassified from accumulated other comprehensive loss by component (U.S. dollars in millions): 

	Amount of (gain) loss reclassified from accumulated other comprehensive loss
	Quarter ended
Details about accumulated other comprehensive loss components	March 27, 2026		March 28, 2025		Affected line item in the statement where net income is presented
Cash flow hedges:
Designated as hedging instruments:
Foreign currency cash flow hedges	$	(0.7)	$	1.9	Net sales
Foreign currency cash flow hedges	(0.3)		0.2		Cost of products sold
Interest rate swaps	(0.3)		(0.9)		Interest expense
Total	$	(1.3)	$	1.2
Amortization of retirement benefits:
Actuarial losses	$	0.2	$	0.1	Other expense, net
Total	$	0.2	$	0.1

18.  Shareholders’ Equity

Our shareholders have authorized 50,000,000 preferred shares at $0.01 par value, of which none were issued or outstanding at March 27, 2026, and 200,000,000 ordinary shares at $0.01 par value, of which 47,573,508 were issued and outstanding at March 27, 2026.

On February 21, 2025, our Board of Directors approved a stock repurchase program ("the Stock Repurchase Program") of up to $150 million of our ordinary shares. During the quarter ended March 27, 2026, we repurchased 100,000 shares for $4.0 million under the Stock Repurchase Program. The Stock Repurchase Program has no expiration date and will continue until otherwise modified or terminated by the Company's Board of Directors at any time in its sole discretion.

The below is a summary of the dividends paid per share during the quarters ended March 27, 2026 and March 28, 2025. These dividends were declared and paid within the same fiscal quarter.

Quarter ended
March 27, 2026			March 28, 2025
Dividend Payment Date	Cash Dividend per Ordinary Share		Dividend Payment Date	Cash Dividend per Ordinary Share
March 27, 2026	$	0.30	March 28, 2025	$	0.30

We paid $14.2 million in dividends during the quarter ended March 27, 2026 and $14.4 million in dividends during the quarter ended March 28, 2025.

On April 28, 2026, our Board of Directors declared a quarterly cash dividend of thirty cents $0.30 per share, payable on June 11, 2026, to shareholders of record on May 19, 2026.

27

Item 2.        Management's Discussion and Analysis of Financial Condition and Results of Operations

Overview

We are one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and marketer of prepared fruit and vegetables, juices, beverages and snacks in Europe, Africa and the Middle East. We market our products worldwide under the Del Monte® brand, a symbol of product innovation, quality, freshness and reliability since 1892. Our major sales markets are organized as follows: North America, Europe, the Middle East (which includes North Africa) and Asia. Our global sourcing and logistics system allows us to provide regular delivery of consistently high-quality produce and value-added services to our customers. Our major production operations are located in North, Central and South America, Asia and Africa.

Subsequent to our March 2026 acquisition of select assets of Del Monte Foods, our business is comprised of four reportable segments, three of which represent our primary businesses of fresh and value-added products, banana and prepared foods, and one that represents our other ancillary businesses.

•Fresh and value-added products - includes pineapples, fresh-cut fruit, fresh-cut vegetables (which includes fresh-cut salads), melons, vegetables, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, and avocados.

•Banana

•Prepared Foods - includes prepared fruit and vegetables, juices, other beverages, and meals and snacks

•Other products and services - includes our third-party freight and logistic services business, our Jordanian poultry and meats business and our specialty ingredients business.

Our vision is to inspire healthy lifestyles through wholesome and convenient products. Our strategy is founded on six goals:

28

Acquisition of Select Assets of Del Monte Foods Corporation II Inc. and Affiliates

On March 19, 2026, we completed the acquisition of select assets from Del Monte Foods Corporation II Inc. and its affiliates ("Del Monte Foods") following a court-supervised bankruptcy auction process under Section 363 of the U.S. Bankruptcy Code. In the acquisition, we acquired (i) the prepared and packaged foods businesses of Del Monte Foods comprising canned vegetable, tomato, and refrigerated fruit business assets operated under the Del Monte®, S&W®, Contadina®, and other trademarks as described in the APA, (ii) four US facilities, two facilities in Mexico, and one facility in Venezuela and (iii) global ownership of the Del Monte® brand, which is subject to existing licensing arrangements across different regions and categories (the “Acquisition”). As part of the Acquisition, we also acquired 100% of the voting interests of Del Monte Foods Mexico and South American subsidiaries, assumption of customer and supplier contracts as defined in the APA, as well as inventory at closing.

The Acquisition reunites the Del Monte® brand under a single owner for the first time in nearly four decades, expanding our prepared foods business and aligning with our existing fresh business under a global strategy to expand household penetration and enhance operational efficiency, flexibility, and cost structure.

Current Macroeconomic Environment

We continue to actively monitor macroeconomic trends and geopolitical pressures around the world including, among others, the conflicts in the Middle East and other regional or global military conflicts. During the first quarter of 2026, escalation of the conflict in the Middle East has resulted in significant disruption to shipping activities through the Strait of Hormuz, a critical maritime area used for global supply chain. Due to these disruptions, we incurred customer quality claims, product damages, and write-off of inventory resulting in $0.6 million of customer claims and $1.7 million of other product-related charges recognized during the first quarter of 2026. Additionally, these conflicts have resulted in increased variability in certain commodity and transport markets, including those for shipping fuel and fertilizer used for production and shipment of our products. We expect the increase of volatility in these commodity markets to be material. As a result of this increased volatility, our results and cash flows will be impacted, including increased costs for inputs used in our production and supply chain as well as affecting the affordability of our products for our customers. We continue to monitor developments with respect to the conflict in the region, including its ongoing impact on global commodity prices and shipping and logistic disruptions.

During 2025, the U.S. government signaled or announced numerous changes to its trade policy, including changes to existing trade agreements and the use of tariffs to enforce trade policy. The tariffs impact various jurisdictions we sell into and from which we purchase or source, including Costa Rica, Guatemala and Ecuador where we source the majority of our products sold into the United States. These tariffs exempt imports that are compliant with the United States-Mexico-Canada ("USMCA") trading agreement, which includes a wide range of fresh fruit and vegetables. On November 14, 2025, President Trump issued an executive order removing tariffs on various agricultural products, including certain imported fruits such as bananas and pineapples, reducing our exposure to tariff charges compared to earlier in the year. However, these trade policies are subject to change with limited or no advance notice to the Company. As a result, it is uncertain what, if any, impact tariffs or other trade policy may have on products we source or partially source from outside the United States. While we were able to mostly mitigate additional costs related to tariff charges placed on products sold into the United States during 2025 and the first quarter of 2026, if we are unable to successfully sustain our increased selling prices to our customers, institute new increases for incremental tariffs, or if increased selling prices impact consumer demand, we expect the impact for the remainder of 2026 to be material.

On February 20, 2026, the United States Supreme Court issued a decision invalidating the broad-based tariffs imposed by the U.S. government under the International Emergency Economic Powers Act (IEEPA), including the additional country specific tariffs. We may be eligible to receive refunds of certain tariffs we paid that were levied under the IEEPA, however significant uncertainty exists regarding our ability to claim any potential tariff refunds as well as the timing of such refunds. Subsequent to the ruling by the United States Supreme Court striking down the tariffs, the U.S. government has announced its intent to levy new sets of tariffs under Sections 122 and 301 of the Trade Act of 1974, under Sections 122 and 301 of the Trade Act of which would not fall under the IEEPA. These new set of tariffs could also be facing legal challenges. As a result, significant uncertainty remains on the potential impact of tariffs on the cost of our products sold into the United States. The actual impact of tariffs on our business is subject to a number of factors including the duration of such tariffs, changes to the countries included in the scope of tariffs in the future, changes to amounts, potential retaliatory tariffs imposed by other countries, court rulings and other variables.

29

Income Taxes

In connection with the examination of the tax returns in three foreign jurisdictions, the taxing authorities have issued income tax deficiencies related to transfer pricing aggregating approximately $272.5 million (including interest and penalties) for tax years 2012 through 2021. We strongly disagree with the proposed adjustments and have filed a protest with each of the taxing authorities.

In one foreign jurisdiction, we are currently contesting tax assessments related to the 2012-2015 audit years and the 2016 audit year in both the administrative court and the judicial court. During 2019 and 2020, we filed actions contesting the tax assessment in the administrative office. Our initial challenge to each of these tax assessments was rejected, and we subsequently lost our appeals at the administrative court. We have subsequently filed actions to contest each of these tax assessments in the country’s judicial courts. In addition, we have filed a request for injunction to the judicial court to stay the tax authorities' collection efforts for these two tax assessments, pending final judicial decisions. The court granted our injunction with respect to the 2016 audit year, however denied our injunction with respect to the 2012-2015 audit years. We timely appealed the denial of the injunction, and on August 10, 2022 the appellate court overturned the denial and granted our injunction for the 2012-2015 audit years with a trial date set for July 4, 2025. During June 2025, we were notified of the hearing being suspended until further notice due to a pending constitutional remedy affecting a rule included in the arguments. Pursuant to local law, we registered real estate collateral with an approximate fair market value of $7.9 million in connection with the grant of the 2016 audit year injunction. This real estate collateral has a net book value of $3.8 million as of the quarter ended March 27, 2026. In addition, in connection with the grant of the 2012-2015 audit year injunction, we registered real estate collateral with an approximate fair market value of $32.9 million, and a net book value of $4.6 million as of the quarter ended March 27, 2026. The registration of this real estate collateral does not affect our operations in the country.

In the second foreign jurisdiction, the administrative court denied our appeal, and on March 4, 2020 we filed an action in the judicial court to contest the administrative court's decision. The case is still pending.

In the third foreign jurisdiction, we received tax assessments related to the 2018-2021 audit years. We filed objections contesting these assessments and subsequently initiated appeals. On January 16, 2026, the Company received an unfavorable decision related to the appeals. On February 9, 2026, we filed an action to pursue further appeal through the applicable appellate forum. The case remains pending.

We will continue to vigorously contest the adjustments and intend to exhaust all administrative and judicial remedies necessary in both jurisdictions to resolve the matters, which could be a lengthy process.

We regularly assess the likelihood of adverse outcomes resulting from examinations such as these to determine the adequacy of our tax reserves. Accordingly, we have not accrued any additional amounts based upon the proposed adjustments. There can be no assurance that these matters will be resolved in our favor, and an adverse outcome of either matter, or any future tax examinations involving similar assertions, could have a material effect on our financial condition, results of operations and cash flows.

Additionally, the European Union (EU) Member States formally adopted the EU’s Pillar Two Directive, which generally provides for a minimum effective tax rate of 15%, as established by the Organization for Economic Co-operation and Development (OECD) Pillar Two Framework. Pursuant to the implementation dates prescribed in the Directive, the rules became effective for the Company for the 2025 fiscal year. We have evaluated the impact of the global minimum tax rules under Pillar Two for the current interim period. The effect of Pillar Two has been reflected in our estimated annual effective tax rate used to determine income tax expense in accordance with ASC 740 for the quarter ended March 27, 2026.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. We are continuing to assess its impact on our consolidated financial statements.

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RESULTS OF OPERATIONS

Consolidated Financial Results

The following summarizes the more significant factors impacting our operating results for the 13-week periods ended March 27, 2026 (also referred to as the “first quarter of 2026”) and March 28, 2025 (also referred to as the “first quarter of 2025”).

	Quarter ended
	March 27, 2026		March 28, 2025
Net sales	$	1,044.1	$	1,098.4
Gross profit	89.0		92.2
Selling, general and administrative expenses	51.1		48.1
Operating income	20.1		44.9

Net sales - Net sales for the first quarter of 2026 were $1,044.1 million, compared with $1,098.4 million in the first quarter of 2025. The decrease was primarily driven by lower net sales in our fresh and value-added products segment, reflecting the strategic divestiture of our Mann Packing business in the fourth quarter of 2025 and lower net sales of avocados due to industry-wide oversupply, which resulted in lower per-unit selling prices. The decrease was partially offset by net sales from our acquisition of Del Monte Foods on March 19, 2026, as well as the favorable impact of fluctuations in exchange rates primarily related to the Euro.

Gross profit - Gross profit for the first quarter of 2026 was $89.0 million, compared with $92.2 million in the first quarter of 2025. The decrease in gross profit was primarily driven by lower gross profit in our other products and services business segment, reflecting lower per-unit selling prices in its poultry and meats business due to slower demand and the impact of the Middle East conflict. Gross profit was also negatively impacted in our prepared foods business segment, driven by higher per-unit production and procurement costs. Across our portfolio, results were affected by supply chain disruptions in the Strait of Hormuz associated with geopolitical developments and the unfavorable impact of fluctuations in exchange rates due to a stronger Costa Rican colon. The decrease was partially offset by higher per-unit selling prices in our banana and pineapple product lines, as well as the acquisition of Del Monte Foods.

Gross profit for the first quarter of 2026 was negatively impacted by $2.3 million of charges, including $0.6 million of sales claims and $1.7 million of other product-related charges, primarily due to customer quality claims, product damage, and inventory write-offs related to disruptions to shipping lanes in the Strait of Hormuz associated with geopolitical developments in the region. No other product-related charges were recorded during the first quarter of 2025.

Selling, general and administrative expenses - Selling, general and administrative expenses for the first quarter of 2026 increased by $3.0 million compared with the first quarter of 2025. The increase was primarily driven by our acquisition of Del Monte Foods, including the addition of sales and marketing costs incurred subsequent to our March acquisition, as well as higher advertising and promotional expenses in Europe.

Gain on disposal of property, plant and equipment, net - Gain on disposal of property, plant and equipment, net for the first quarter of 2026 of $2.2 million and consisted of the sale of farmlands in Chile. The gain on disposal of property, plant and equipment, net for the first quarter of 2025 of $0.8 million primarily consisted of the sale of idle land in Guatemala.

Asset impairment and other charges, net - Asset impairment and other charges, net of $20.0 million for the first quarter of 2026 primarily consisted of $16.1 million related to right-of-use assets acquired from Del Monte Foods for product lines we do not intend to operate and $3.5 million of business transaction costs, including transaction advisory fees, legal, consulting, and accounting expenses associated with our acquisition of Del Monte Foods. No asset impairment and other charges, net were recorded during the first quarter of 2025.

Operating income - Operating income decreased by $24.8 million in the first quarter of 2026 compared with the prior-year period. The decrease was primarily driven by higher asset impairment and other charges, net, when compared to the prior-year period.

Interest expense - Interest expense decreased by $1.2 million in the first quarter of 2026 compared with the prior-year period primarily due to lower average debt balances during the respective periods.

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Income from equity method investments - Income from equity method investments increased by $6.6 million in the first quarter of 2026 compared to the prior-year period due to higher equity earnings of unconsolidated companies within the food and nutrition sector compared to the prior-year. The higher equity earnings were due to distributions received in excess of our carrying value at the time of liquidation of a fund in which we previously held an interest.

Other expense, net - Other expense, net for the first quarter of 2026 was $6.3 million compared with $2.8 million in the first quarter of 2025. The increase for the first quarter of 2026 was primarily due to higher foreign currency losses as compared to the prior-year period, primarily related to changes in the Costa Rican colon and Japanese yen.

Income tax provision - Income tax provision increased to $7.8 million for the first quarter of 2026 compared with $6.9 million for the first quarter of 2025. The increase is primarily due to increased earnings in certain higher tax jurisdictions. In addition, the increase also reflects the impact of the implementation of global minimum tax rules under Pillar Two.

Financial Results by Segment

The following table presents net sales and gross profit by segment (U.S. dollars in millions), and in each case, the percentage of the total represented thereby and gross margin percentage:

	Quarter ended
	March 27, 2026										March 28, 2025
Segment	Net Sales				Gross Profit				Gross Margin		Net Sales				Gross Profit				Gross Margin
Fresh and value-added products	$	549.0	53	%	$	59.8	67	%	10.9	%	$	612.3	56	%	$	59.0	64	%	9.6	%
Banana	357.1		34	%	16.5		19	%	4.6	%	363.8		33	%	16.8		18	%	4.6	%
Prepared foods	82.5		8	%	8.9		10	%	10.8	%	70.9		6	%	10.3		11	%	14.5	%
Other products and services	55.5		5	%	3.8		4	%	6.8	%	51.4		5	%	6.1		7	%	11.9	%
Total	$	1,044.1	100	%	$	89.0	100	%	8.5	%	$	1,098.4	100	%	$	92.2	100	%	8.4	%

First Quarter of 2026 Compared with First Quarter of 2025

Fresh and value-added products

Net sales for the first quarter of 2026 were $549.0 million, compared with $612.3 million in the prior-year period. The decrease in net sales was primarily a result of strategic reductions in our fresh and fresh-cut vegetables business, including the divestiture of our Mann Packing business during the fourth quarter of 2025, and lower per-unit selling prices of avocado due to industry-wide over supply. These decreases were partially offset by higher net sales of pineapples due to higher per-unit selling prices and the favorable impact of fluctuations in exchange rates primarily related to the euro.

Gross profit for the first quarter of 2026 was $59.8 million, compared with $59.0 million in the prior-year period. The increase in gross profit was primarily driven by our fourth quarter 2025 divestiture of our Mann Packing business, which generated negative gross profit in the prior-year period, and higher per-unit selling prices of pineapples. The increase was partially offset by lower net sales, higher per-unit production costs of melons, and weather related incidents in North America that negatively impacted sales volumes of fresh-cut fruit and contributed to lower per-unit selling prices in its melon product line during the quarter.

Gross profit for the first quarter of 2026 was negatively impacted by $0.8 million of charges, including $0.1 million of sales claims and $0.7 million of other product-related charges, primarily due to customer quality claims, product damages and write-off of inventory related to disruptions to shipping lanes in the Strait of Hormuz associated with geopolitical developments in the region. No other product-related charges were recorded during the first quarter of 2025. Gross margin increased to 10.9% from 9.6% in the prior-year period.

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Banana

Net sales for the first quarter of 2026 were $357.1 million, compared with $363.8 million in the prior-year period. The decrease in net sales was primarily a result of lower sales volume in Asia due to lower supply, including the impact of supplier changes in the quarter, and in North America due to weak market demand and the impact of adverse weather. The decrease in net sales was partially offset by higher per-unit selling prices across all of the Company's regions, and the favorable impact of fluctuations in exchange rates, primarily related to the euro.

Gross profit for the first quarter of 2026 was $16.5 million, compared with $16.8 million in the prior-year period. The decrease in gross profit was primarily driven by lower net sales and higher per-unit production and procurement costs, partially offset by higher per-unit selling prices.

Gross profit for the first quarter of 2026 was negatively impacted by $1.5 million of charges, including $0.5 million of sales claims and $1.0 million of other product-related charges, primarily due to customer quality claims, product damage, and inventory write-offs related to disruptions to shipping lanes in the Strait of Hormuz associated with geopolitical developments in the region. No other product-related charges were recorded during the first quarter of 2025. Gross margin was 4.6%, consistent with 4.6% in the prior-year period.

Prepared foods

Net sales for the first quarter of 2026 were $82.5 million, compared with $70.9 million in the prior-year period. The increase in net sales was primarily driven by our acquisition of Del Monte Foods in March 2026 and was partially offset by lower net sales in Europe due to a lower availability of fruit inputs, including pineapple, used in canned pineapple.

Gross profit for the first quarter of 2026 was $8.9 million, compared with $10.3 million in the prior-year period. The decrease in gross profit was primarily driven by lower net sales in Europe and higher per-unit production and distribution costs, partially offset by our acquisition of Del Monte Foods. Gross margin decreased to 10.8% from 14.5% in the prior-year period.

Other products and services

Net sales for the first quarter of 2026 were $55.5 million, compared with $51.4 million in the prior-year period. The increase in net sales was the result of higher net sales of our third-party freight services business, and was partially offset by lower net sales in our poultry and meats business due to lower per-unit selling prices.

Gross profit was $3.8 million for the first quarter of 2026, compared with $6.1 million in the prior-year period. The decrease in gross profit was primarily a result of lower per-unit selling prices in our poultry and meats business. Gross margin decreased to 6.8% from 11.9% in the prior-year period.

Liquidity and Capital Resources

Fresh Del Monte Produce Inc. is a holding company whose only significant asset is the outstanding capital stock of our subsidiaries that directly or indirectly own all of our assets. We conduct all of our business operations through our subsidiaries. Accordingly, as of March 27, 2026, our principal sources of liquidity were (i) cash generated from operations of our subsidiaries, (ii) our combined $796 million of credit facilities, including $750 million associated with our amended senior unsecured revolving credit facility, with an available capacity of approximately $336 million and (iii) existing cash and cash equivalents of $66.3 million. The loan commitments under our credit facilities can be used for working capital or other general corporate purposes. On a long-term basis, we will continue to rely on our credit facilities for any long-term funding not provided by cash generated from operations of our subsidiaries.

Our principal uses of liquidity are paying the costs associated with our operations, paying dividends, and making capital expenditures to increase our productivity and expand our product offerings and geographic reach. We may also, from time to time, prepay outstanding indebtedness on our credit facility, repurchase and retire ordinary shares of our common stock, or make investments in businesses that we believe are complementary to our operations and long-term strategy.

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On March 19, 2026, we completed our acquisition of Del Monte Foods assets for consideration comprising of $310.2 million. For additional information, refer to Note 3. "Acquisitions" of the accompanying unaudited consolidated financial statements.

On February 21, 2025, our Board of Directors approved a stock repurchase program ("Stock Repurchase Program") of up to $150 million of our ordinary shares. During the first quarter of 2026, we repurchased 100,000 shares for $4.0 million under the Stock Repurchase Program. As of March 27, 2026, the maximum dollar value of shares yet to be repurchased under the Stock Repurchase Program was $116,156,420. The Stock Repurchase Program has no expiration date and will continue until otherwise modified or terminated by the Company's Board of Directors at any time in its sole discretion.

A summary of our cash flows is as follows (U.S. dollars in millions):

	Quarter ended
	March 27, 2026		March 28, 2025
Summary cash flow information:
Net cash provided by operating activities	$	44.1	$	46.1
Net cash used in investing activities	(282.2)		(8.8)
Net cash provided by (used in) financing activities	244.7		(34.5)
Effect of exchange rate changes on cash	(1.0)		(1.0)
Net increase in cash, cash equivalents and restricted cash	5.6		1.8
Cash, cash equivalents and restricted cash, beginning	64.2		32.6
Cash, cash equivalents and restricted cash, ending	$	69.8	$	34.4

Operating Activities

Net cash provided by operating activities was $44.1 million for the quarter ended March 27, 2026 compared with $46.1 million for the quarter ended March 28, 2025, a decrease of $2.0 million. The primary driver of cash flows in both years was net earnings, with the decrease in net cash provided by operating activities during the quarter ended March 27, 2026, being primarily attributable to the lower net income. The decrease was partially offset by the change in non-cash items including higher asset impairments and the effect of working capital fluctuations, mainly due to lower levels of inventory and higher levels of trade receivables due to the timing of period-end receipts.

At March 27, 2026, we had working capital of $789.0 million, compared with $611.5 million at December 26, 2025, an increase of $177.5 million. The increase in working capital was primarily due to higher levels of inventory and trade accounts receivable, partially offset by higher levels of accounts payable and accrued expenses. The changes in working capital during the period were primarily due to our March acquisition of select assets of Del Monte Foods which was funded primarily with long-term debt.

Investing Activities

Net cash used in investing activities for the quarter ended March 27, 2026 was $282.2 million, compared with net cash used in investing activities of $8.8 million for the quarter ended March 28, 2025. Net cash used in investing activities for the quarter ended March 27, 2026 primarily consisted of our acquisition of select assets of Del Monte Foods, net of cash, for $307.7 million, capital expenditures of $14.4 million which mainly included expenditures related to (i) improvements to our banana and pineapple operations in Central America and (ii) improvements to our pineapple operations in Kenya. Net cash used in investing activities for the quarter ended March 27, 2026 also included $2.5 million in investments in unconsolidated companies in the food and nutrition sector that align with our long-term strategy and vision. Partially offsetting the net cash used in investing activities for the quarter ended March 27, 2026 were distributions received of $29.6 million due to the liquidation of an unconsolidated investment and proceeds from the distribution and the sale of property, plant and equipment of $12.8 million which primarily relate to the sale of a carrier vessel, two idle properties in Chile, and idle land in Guatemala.

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Net cash used in investing activities for the quarter ended March 28, 2025 primarily consisted of capital expenditures of $10.0 million which mainly included expenditures related to investments in our operations and production facilities in North America and Kenya benefiting our fresh and value-added operations. Net cash used in investing activities for the quarter ended March 28, 2025 also included $1.2 million in investments in unconsolidated companies in the food and nutrition sector that align with our long-term strategy and vision. Partially offsetting the net cash used in investing activities for the quarter ended March 28, 2025 were proceeds from the sale of property, plant and equipment, and subsidiary of $1.9 million which mainly related to the sale of idle land in Guatemala.

Financing Activities

Net cash provided by financing activities for the quarter ended March 27, 2026 was $244.7 million, compared with net cash used in financing activities of $34.5 million for the quarter ended March 28, 2025. Net cash provided by financing activities for the quarter ended March 27, 2026 primarily consisted of net borrowings of debt of $265.0 million partially offset by dividends paid of $14.2 million and the repurchase and retirement of ordinary shares of $4.0 million as part of our previously announced stock repurchase program.

Net cash used in financing activities for the quarter ended March 28, 2025 primarily consisted of dividends paid of $14.4 million, net repayments on debt of $11.1 million and the repurchase and retirement of ordinary shares of $7.6 million as part of our stock repurchase program announced in February 2025.

Debt Instruments and Debt Service Requirements

On February 21, 2024, we entered into Amendment No. 2 to the Second Amended and Restated Credit Agreement (the "2024 Amended Credit Facility") with Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner and certain other lenders. The 2024 Amended Credit Facility provides for a five-year, $0.75 billion syndicated senior unsecured revolving credit facility maturing on February 21, 2029. Amounts borrowed under the revolving credit facility accrue interest at a rate equal to the Term SOFR rate plus a margin that ranges from 1.0% to 1.625% based on our Consolidated Leverage Ratio (as defined in the 2024 Amended Credit Facility). The 2024 Amended Credit Facility also permits, under certain conditions, $200 million of Permitted Receivables Financing (as defined in the 2024 Amended Credit Facility). In addition, we pay a fee on unused commitments at a rate equal to 0.150% to 0.250% based on our Consolidated Leverage Ratio. We intend to use funds borrowed under the Amended Revolving Credit Facility from time to time for general corporate purposes, working capital, capital expenditures and other permitted investment opportunities.

The 2024 Amended Credit Facility provides for an accordion feature that permits us, without the consent of the other lenders, to request that one or more lenders provide us with increases in revolving credit facility or term loans up to an aggregate of $300 million (“Incremental Increases”). The aggregate amount of Incremental Increases can be further increased to the extent that after giving effect to the proposed increase in revolving credit facility commitments or term loans our Consolidated Leverage Ratio, on a pro forma basis, would not exceed 2.75 to 1.00. Our ability to request such increases or term loans is subject to our compliance with customary conditions set forth in the 2024 Amended Credit Facility including compliance, on a pro forma basis, with certain financial covenants and ratios. Upon our request, each lender may decide, in its sole discretion, whether to increase all or a portion of its revolving credit facility commitment or provide term loans.

The 2024 Amended Credit Facility contains similar financial covenants to those included within the Second A&R Credit Agreement. Specifically, it requires us to maintain 1) a Consolidated Leverage Ratio of not more than 3.75 to 1.00 at any time during any period of four consecutive fiscal quarters, subject to certain exceptions and 2) minimum Consolidated Interest Coverage Ratio of not less than 2.25 to 1.00 as of the end of any fiscal quarter. As a result of our March 19, 2026 acquisition of select assets of Del Monte Foods meeting the definition of a Permitted Acquisition as defined in the 2024 Amended Credit Facility, the Consolidated Leverage Ratio required to be maintained was increased to not exceed 4.25 to 1.00 as of the end of the quarter ended March 27, 2026 and will remain at that level for the succeeding three fiscal quarters.

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Additionally, it requires us to comply with certain other covenants, including limitations on capital investments, the amount of dividends that can be paid in the future, the amounts and types of liens and indebtedness, material asset sales, and mergers. Under the 2024 Amended Credit Facility, we are permitted to declare or pay cash dividends in any fiscal year up to an amount that does not exceed the greater of (i) an amount equal to (1) the greater of (A) 50% of the Consolidated Net Income (as defined in the 2024 Amended Credit Facility) for the immediately preceding fiscal year or (B) $25 million (the "Base Dividend Basket") plus (2) commencing in the fiscal year ending December 26, 2025 any portion of the Base Dividend Basket not used in the immediately preceding fiscal year, or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis as of the date of declaration or payment) to exceed 3.50 to 1.00. As a result of our March 19, 2026 acquisition of select assets of Del Monte Foods meeting the definition of a Permitted Acquisition as defined in the 2024 Amended Credit Facility, the Consolidated Leverage Ratio required to be maintained was increased to not exceed 4.25 to 1.00 as of the end of the quarter ended March 27, 2026 and will remain at that level for the succeeding three fiscal quarters. It also provides an allowance for stock repurchases to be an amount not exceeding the greater of (i) (A) $50,000,000 (the "Base Redemption Basket") plus (B) commencing in the fiscal year ending December 26, 2025, any portion of the Base Redemption Basket not used in the immediately preceding fiscal year or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis as of the date of such repurchase) to exceed 3.50 to 1.00. As of March 27, 2026, we were in compliance with all the covenants contained in the 2024 Amended Credit Facility.

In addition to the indebtedness under our 2024 Amended Credit Facility, our material cash requirements include contractual obligations from other working capital facilities and lease obligations. Refer to Note 10. "Debt and Finance Lease Obligations" of the accompanying unaudited consolidated financial statements for more information regarding these material cash requirements.

As of March 27, 2026, we had $336.3 million unused borrowing capacity, net of letters of credit and guarantees, primarily under the 2024 Amended Credit Facility.

We believe that our cash on hand, borrowing capacity available under our 2024 Amended Credit Facility, and cash flows from operations for the next twelve months will be sufficient to meet our cash requirements and service our outstanding debt during the next twelve months. However, we cannot predict whether future developments associated with the current economic environment will materially adversely affect our long-term liquidity position. Our liquidity assumptions, the adequacy of our available funding sources, and our ability to meet our 2024 Amended Credit Facility covenants are dependent on many additional factors, including those set forth in “Item 1A. Risk Factors” of our Form 10-K for the year ended December 26, 2025.

Contractual Obligations

As of March 27, 2026, there were no material changes in our commitments or contractual obligations as compared to those disclosed in our Annual Report on Form 10-K for the year ended December 26, 2025.

Critical Accounting Policies and Estimates

A discussion of our critical accounting policies and estimates can be found in “Management's Discussion and Analysis of Financial Condition and Results of Operations” included in our Form 10-K for the fiscal year ended December 26, 2025. There were no material changes to these critical accounting policies or estimates during the first quarter of 2026.

Fair Value Measurements

Our results of operations and financial condition are exposed to fluctuations in currency exchange rates against the U.S. dollar, and we mitigate that exposure by entering into foreign currency forward contracts. Certain of our subsidiaries periodically enter into foreign currency forward contracts in order to hedge portions of forecasted sales or cost of sales denominated in foreign currencies which generally expire within one year. The fair value of our foreign currency cash flow hedges was a net asset position of $7.9 million as of March 27, 2026 compared to a net liability position of $1.0 million as of December 26, 2025 due to the relative strengthening of exchange rates when compared to contracted rates, primarily related our Euro forward contracts, during the three months ended March 27, 2026.

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We are exposed to fluctuations in variable interest rates on our results of operations and financial condition, and we mitigate that exposure by entering into interest rate swaps from time to time. During 2018, we entered into interest rate swaps in order to hedge the risk of the fluctuation on future interest payments related to a portion of our variable rate borrowings through 2028. On July 19, 2024, we agreed to terminate our outstanding interest rate swap agreement in exchange for $7.3 million, net of fees of $0.2 million. Based on our assessment that the originally hedged cash flows associated with our variable rate borrowings remain probable, the proceeds received as a result of the termination of our outstanding interest rate swap agreement will remain in accumulated other comprehensive loss and be reclassified to earnings through interest expense over the remaining life of the hedged debt. At March 27, 2026, $2.4 million remained in accumulated other comprehensive loss related to the terminated interest rate swap, of which $1.1 million is expected to be reclassified to earnings through interest expense over the next twelve months.

We enter into derivative instruments with counterparties that are highly rated and do not expect a deterioration of our counterparty’s credit ratings; however, the deterioration of our counterparty’s credit ratings would affect the Consolidated Financial Statements in the recognition of the fair value of the hedges that would be transferred to earnings as the contracts settle. We expect that $9.0 million of the net fair value of our cash flow hedges recognized as a net gain in accumulated other comprehensive loss, inclusive of amounts associated with our interest rate swap terminated during the quarter ended June 28, 2024, will be transferred to earnings during the next 12 months, and the remaining net gain of $1.3 million over the following 2 years, along with the earnings effect of the related forecasted transactions.

The fair value of the banana reporting unit's goodwill and the prepared food reporting unit's goodwill are sensitive to differences between estimated and actual cash flows and changes in the related discount rate used to evaluate the fair value of these assets. We disclosed the sensitivity related to the banana reporting unit's goodwill and the prepared food reporting unit's goodwill in our Annual Report on Form 10-K for the year ended December 26, 2025. During the quarter ended March 27, 2026, we did not record impairment charges associated with these reporting units, however we continue to monitor their performance.

Potential impairment exists if the fair value of a reporting unit to which goodwill has been allocated is less than the carrying value of the reporting unit. Future changes in the estimates used to conduct our impairment review, including our financial projections and changes in the discount rates used, could cause the analysis to indicate that our goodwill are impaired in subsequent periods and result in a write-off of a portion or all of goodwill.

During and subsequent to the quarter ended March 27, 2026, escalation of the conflict in the Middle East has resulted in significant disruption to shipping activities through the Strait of Hormuz and commercial activities globally, leading to increased variability in certain commodity markets such as shipping fuel and fertilizer. We cannot predict whether future developments associated with the conflict, including the length of heightened volatility in commodity markets or its impact on consumer demand, will result in changes to our projected cash flows or discount rates used that may lead to impairment of our goodwill.

New Accounting Pronouncements

Refer to Note 2. “Recently Issued Accounting Pronouncements” of the accompanying unaudited consolidated financial statements for a discussion of recent accounting pronouncements.

Seasonality

Interim results are subject to significant variations and may not be indicative of the results of operations that may be expected for an entire fiscal year. Due to seasonal sales price fluctuations, we have historically realized a greater portion of our net sales and gross profit during the first two quarters of the year. We anticipate the Del Monte Foods acquisition will reduce this seasonality on our financial results, as the businesses we acquired have historically realized a greater portion of its net sales during the last quarter of the year, however we cannot be certain this trend will continue subsequent to our acquisition. The sales price of any fresh produce item fluctuates throughout the year due to the supply of and demand for that particular item, as well as the pricing and availability of other fresh produce items, many of which are seasonal in nature. Information about the seasonality of our results is included under the caption “Seasonality” provided in Item 1. Business, of our Annual Report on Form 10-K for the year ended December 26, 2025.

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Forward-Looking Statements

This quarterly report contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Specifically, this quarterly report contains forward-looking statements regarding:

•our expectations regarding future financial and operational performance;

•our ability to successfully integrate the acquired Del Monte Foods assets into our business operations;

•our expectations regarding the impact of tariffs and other governmental trade restrictions on our business;

•our expectations regarding the impact on our business operations of any geopolitical conflicts, including shipping disruptions as a result of the United States, Israel, and Iran conflict;

•our expectations regarding continued inflationary pressures, our ability to mitigate such pressures through pricing, and the impacts to our operating results;

•our intentions regarding the use of borrowed funds;

•our expectations regarding share repurchases;

•our expectations regarding the impact of storms on our business and our ability to recover insurance proceeds, if any;

•our expectations regarding market conditions, volatility and seasonality, and their impact on our operating results;

•our beliefs related to the sufficiency of our capital resources, including that our cash on hand, capacity under our 2024 Amended Credit Facility and cash flows from operations for the next twelve months will be sufficient to service our outstanding debt during the next twelve months;

•our expectations regarding our derivative instruments, including our counterparties’ credit ratings and the anticipated impacts on our financials;

•our expectations and estimates regarding certain legal, tax and accounting matters, including our litigation strategy, plans and beliefs regarding the ultimate outcome of income tax adjustments assessed by foreign taxing authorities;

•our expectations regarding the potential impact of pending legislation and any impact that may have on our financial condition, results of operations and cash flows;

•our expectations concerning the fair value of hedges, including the timing and impact to our results;

•our expectations regarding estimated liabilities related to environmental cleanup; and

•our plans and future performance.

These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We wish to caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement. These various factors include, but are not limited to, the following:

•our ability to achieve the benefits we expect to realize as a result of our acquisition of the Del Monte Foods assets;

•liabilities acquired from the Del Monte Foods assets that are not known to us;

•the impact of inflationary pressures on raw materials and other costs, as well as the impact on increased costs for many of our products;

•the impact of tariffs and other governmental trade restrictions;

•our exposure to political, economic and other risks from operating a multinational business, which could have a material adverse effect on our results and financial condition;

•the impact of increased costs for many of our products, including bananas, pineapples, avocados and other fresh produce;

•the impact of pricing and other actions by competitors, particularly during periods of low consumer confidence and spending levels;

•the timing and cost of resolution of pending and future legal and environmental proceedings or investigation;

•the impact of severe weather conditions and natural disasters, such as flooding, hurricanes, earthquakes, on crop quality and yields and on our ability to grow, procure or export our products;

•the adequacy of our insurance coverage;

•the cost and other implications of changes in regulations applicable to our business, including potential legislative or regulatory initiatives in the United States or elsewhere directed at mitigating the effects of climate change;

•our ability to successfully compete in the markets in which we do business;

•the impact on our business of the consolidation of retailers, wholesalers and distributors in the food industry;

•the impact of foreign currency fluctuations and currency exchange risks because of our international business;

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•the impact on our sales and profits if we lose one or more of our largest customers or such customers reduce their purchases from us;

•the availability of sufficient labor during peak growing and harvesting seasons;

•the continued ability of our distributors and suppliers to have access to sufficient liquidity to fund their operations;

•the impact of governmental trade restrictions, including adverse governmental regulation that may impact our ability to access certain markets;

•our ability to meet our anticipated cash needs in light of our liquidity;

•trends and other factors affecting our financial condition or results of operations from period to period, including changes in product mix, consumer preferences or consumer demand for branded products such as ours; anticipated price and expense levels;

•the impact of crop disease as well as our ability to improve our existing quarantine policies and other prevention strategies, as well as find contingency plans, to protect our and our suppliers' banana crops from vascular diseases such as vascular diseases, one of which is known as Tropical Race 4, or TR4 (also known as Panama Disease);

•our ability to improve our existing quarantine policies and other prevention strategies, as well as find contingency plans, to protect our and our suppliers’ banana crops from vascular diseases;

•global or local disruptions or issues that impact our production facilities or complex logistics network;

•our inability to realize expected benefits on plans for expansion of our business (including through acquisitions);

•our ability to successfully integrate acquisitions and new product lines into our operations;

•the impact of impairment or other charges associated with exit activities, crop or facility damage or otherwise,

•the impact of changes in tax accounting or tax laws (or interpretations thereof), the impact of claims or adjustments proposed by the Internal Revenue Service or other taxing authorities, including the EU, in connection with our tax audits and our ability to successfully contest such tax claims and pursue necessary remedies;

•the success of our joint ventures;

•damage to our reputation or brand names or negative publicity about our products

•our ability to successfully manage the risks associated with international operations, including risks relating to inflation, tax laws, currency restrictions and exchange rate fluctuations, legal or judicial systems, and political or economic conditions;

•the impact of disruptions or breaches of our technology or information system security measures, or of third parties we rely upon;

•our ability to continue to comply with covenants and the terms of our credit instruments and our ability to obtain additional financing to fund our capital expenditures; and

•exposure to product liability claims and associated regulatory and legal actions, product recalls, or other legal proceedings relating to our business.

All forward-looking statements in this report are based on information available to us on the date hereof, and we assume no obligation to update any such forward-looking statements. Our plans and performance may also be affected by the factors described in our most recent Annual Report on Form 10-K along with other reports that we file with the Securities and Exchange Commission.

39

Item 3.        Quantitative and Qualitative Disclosures About Market Risk

There have been no material changes in market risk from the information provided in Item 7A. Quantitative and Qualitative Disclosures About Market Risk of our Annual Report on Form 10-K for the year ended December 26, 2025.

Item 4.        Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of March 27, 2026. Based upon this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms. Such officers also confirm that there were no changes to our internal control over financial reporting during the quarter ended March 27, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting with exception of the acquisition noted below.

On March 19, 2026, we completed our acquisition of select assets of Del Monte Foods Corporation II Inc. and its affiliates ("Del Monte Foods") following a court-supervised bankruptcy auction process under Section 363 of the U.S. Bankruptcy Code. As a result of the acquisition, management is in the process of evaluating the existing controls and procedures of the acquired business and integrating it into our internal control over financial reporting. In accordance with interpretive guidance issued by the SEC staff, management is permitted to exclude an acquired business from its assessment of internal control over financial reporting in the first year subsequent to its acquisition. In light of the overlap between disclosure controls and procedures and internal control over financial reporting, we have excluded the portion of disclosure controls and procedures that are subsumed within the internal control over financial reporting of Del Monte Foods from management's evaluation of our disclosure controls and procedures as of March 27, 2026. The total assets and total revenues excluded from our assessment represented 11% and 2% as of and for the quarter ended March 27, 2026

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PART II. OTHER INFORMATION

Item 1.        Legal Proceedings

Tax related matters

In one foreign jurisdiction, we are currently contesting tax assessments related to the 2012-2015 audit years and the 2016 audit year in both the administrative court and the judicial court. During 2019 and 2020, we filed actions contesting the tax assessment in the administrative office. Our initial challenge to each of these tax assessments was rejected, and we subsequently lost our appeals at the administrative court. We have subsequently filed actions to contest each of these tax assessments in the country’s judicial courts. In addition, we have filed a request for injunction to the judicial court to stay the tax authorities' collection efforts for these two tax assessments, pending final judicial decisions. The court granted our injunction with respect to the 2016 audit year, however denied our injunction with respect to the 2012-2015 audit years. We timely appealed the denial of the injunction, and on August 10, 2022 the appellate court overturned the denial and granted our injunction for the 2012-2015 audit years with a trial date set for July 4, 2025. During June 2025, we were notified of the hearing being suspended until further notice due to a pending constitutional remedy affecting a rule included in the arguments. Pursuant to local law, we registered real estate collateral with an approximate fair market value of $7.9 million in connection with the grant of the 2016 audit year injunction. This real estate collateral has a net book value of $3.8 million as of the quarter ended March 27, 2026. In addition, in connection with the grant of the 2012-2015 audit year injunction, we registered real estate collateral with an approximate fair market value of $32.9 million, and a net book value of $4.6 million as of the quarter ended March 27, 2026. The registration of this real estate collateral does not affect our operations in the country.

In a separate foreign jurisdiction where we are contesting tax assessments, the administrative court denied our appeal, and on March 4, 2020 we filed an action in the judicial court to contest the administrative court's decision. The case is still pending.

In a third foreign jurisdiction, we received tax assessments related to the 2018-2021 audit years. We have filed objections contesting these assessments and have subsequently initiated appeals. On January 16, 2026, the administrative court denied our appeal, and on February 9, 2026 we filed an action to pursue further appeal through the applicable appellate forum. The case remains pending.

We will continue to vigorously contest the adjustments and intend to exhaust all administrative and judicial remedies necessary in both jurisdictions to resolve the matters, which could be a lengthy process.

Item 1A. Risk Factors

“Item 1A. Risk Factors” of our Form 10-K for the year ended December 26, 2025 includes a discussion of our risk factors. The information presented below updates, and should be read in conjunction with, the risk factors and information disclosed in our Form 10-K.

Adverse perception, events or rumors relating to our Del Monte® brand could have a material adverse effect on our business.

We depend on the Del Monte® brand and our other proprietary brands, which we now own pursuant to our acquisition of Del Monte Foods, to differentiate and market our products and maintain consumer recognition and trust. Any events or rumors that cause consumers and/or institutions to no longer associate these brands with high-quality and safe food products may materially adversely affect the value of our brand names and demand for our products. Allegations involving the safety or security of our facilities, employees, or other members of the public, even if untrue, that we are not respecting the human rights found in our Human Rights Policy, which adheres to the United Nations Universal Declaration of Human Rights; actual or perceived failure by our suppliers or other business partners to comply with applicable labor and workplace rights laws, including child labor laws and equal pay laws, or their actual or perceived abuse or misuse of migrant workers or the like could negatively affect our Company’s overall reputation and brand image, which in turn could have a negative impact on our products’ acceptance by consumers or customers. For example, allegations regarding human rights violations have been made regarding our Kenya subsidiary. Any media coverage resulting therefrom, could create a negative public perception of our business, which in turn could have a negative impact on our products’ acceptance by consumers or customers.

Although we now own the trademark of Del Monte® brand and other brands acquired in the Del Monte Foods acquisition, we continue to share, pursuant to existing licensee agreements, the Del Monte® brand and the other brands with unaffiliated companies that manufacture, distribute and sell products under those brands, including the purchaser of the U.S. Del Monte® canned and ambient temperature fruit business. This may limit our ability to control the use of the brand. Furthermore, acts or omissions by these companies, including an instance of food-borne contamination or disease, may adversely affect the value of

41

the Del Monte® brand. As a result, our reputation and the value of the Del Monte® brand may be adversely affected by negative consumer perception which could adversely affect our sales.

The Del Monte® brand may also be affected by negative perceptions associated with the prior financial condition and bankruptcy proceedings of Del Monte Foods. Although we were not responsible for such prior events, customers and vendors may nonetheless associate the brand with those developments.

Negative information about the Del Monte® brand, one of our other brands or our business, whether accurate or not, may be rapidly disseminated through traditional media and digital platforms, including social media and influencer channels, and may result in immediate harm to our reputation without affording us an opportunity to respond or mitigate such impact. Any sustained adverse consumer perception or loss of confidence in the Del Monte® brand could result in decreased demand for our products, harm our relationships with customers and suppliers, and materially adversely affect our business.

We rely on protection of our intellectual property and proprietary rights.

Our success also depends on our ability to protect our intellectual property rights. We rely primarily on patent, copyright, trademark and trade secret laws to protect our intellectual property and proprietary technologies. As the owner of the trademark of Del Monte® and other brands following our acquisition of assets from Del Monte Foods, we have primary responsibility to maintain the enforceability of these brands, monitor unauthorized use, prevent infringement, and maintain the distinctiveness and reputation of the trademark across multiple jurisdictions and product categories. These efforts will require significant more resources than amounts that we previously spent as a licensor. To the extent that we are not successful in adequately protecting the Del Monte® or other brands, it could result in dilution of such brands, loss of exclusivity, increased third-party use that may be inconsistent with our brand standards, or contractual damages under our licensee agreements.

Our trademarks and brand names are registered in jurisdictions throughout the world. We intend to keep these filings current and seek protection for new trademarks to the extent consistent with business needs. However, effective intellectual property protection may not be available in every country in which our brands are sold as the laws of some countries do not protect intellectual property rights to the same extent as the laws of the U.S. We protect our technology by, among other things, filing patent applications for technology relating to the development of our business in the U.S., the EU and selected foreign jurisdictions. We also rely on trade secrets and proprietary know-how and confidentiality agreements to protect our technologies and processes. The failure of any patents, trademarks, trade secrets or other intellectual property rights to provide protection to our technologies would make it easier for our competitors to offer similar products, which could adversely affect our business, financial conditions and results of operations.

The conflict between the United States, Israel, and Iran and the resulting geopolitical instability may adversely affect our business.

In February 2026, the United States and Israel launched coordinated military strikes against Iran, which retaliated with missile attacks across the regions and threats on commercial cargo passing through the Strait of Hormuz, contributing to significant volatility and increase in global oil and energy prices. Brent crude oil prices have recently exceeded $110 per barrel and, at times, reached levels above $120 per barrel, reflecting a material disruption to global energy supply and logistics. These strikes have led to ongoing escalations throughout the Middle East, including additional retaliatory measures and disruptions to trade routes. Further escalation, such as additional military actions, sanctions, or other governmental or market responses, and sustained increase in oil prices may adversely affect our business, financial condition, and results of operations in several ways. Higher fuel costs increase the cost of operating our global logistics network, including ocean freight, trucking, and distribution, which are critical to the transportation of fresh produce and prepared food products. In addition, increased energy prices raise the cost of key agricultural inputs, including fertilizers, packaging materials, and petrochemical-based products, which are widely used throughout the food supply chain. Furthermore, rising fertilizer and agricultural input costs may negatively impact crop yields and sourcing costs, thereby increasing the price of raw materials and reducing supply reliability. Increased energy and input costs could continue to lead to broader inflationary pressures, including higher food prices globally, which may reduce consumer purchasing power and demand for our products. To the extent we are unable to fully offset these cost increases through pricing actions, or cost efficiencies, our margins and profitability may be adversely affected.

42

Item 2.        Unregistered Sales of Equity Securities and Use of Proceeds

Purchases of Equity Securities by the Issuer

The following table provides information regarding our purchases of ordinary shares during the periods indicated:

Period	Total Number of Shares Purchased (1)	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program
December 27, 2025 to January 23, 2026	—	$	—	—
January 24, 2026 to February 20, 2026	—	$	—	—
February 21, 2026 to March 27, 2026	100,000	$	40.24	100,000
Total	100,000				$	116,156,420

(1)On February 21, 2025, our Board of Directors approved a share repurchase program of up to $150 million of our ordinary shares. The program does not obligate the Company to purchase a minimum amount of shares.

Item 5.        Other Information

Rule 10b5-1 Trading Plans

During the quarter ended March 27, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Item 6.        Exhibits 

Exhibit No.	Description
10.33**	Amendment No. 1 to the Original Asset Purchase Agreement, dated March 19, 2026, by and among the Company and Del Monte Foods (incorporated by reference to Exhibit 2.1 to our Current Report on Form 8-K filed with the SEC on March 25, 2026).
31.1**	Certification of Chief Executive Officer filed pursuant to 17 CFR 240.13a-14(a).
31.2**	Certification of Chief Financial Officer filed pursuant to 17 CFR 240.13a-14(a).
32*	Certification of Chief Executive Officer and Chief Financial Officer furnished pursuant to 17 CFR 240.13a-14(b) and 18 U.S.C. Section 1350.
101.INS***	Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH***	Inline XBRL Taxonomy Extension Schema Document.
101.CAL***	Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF***	Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB***	Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE***	Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104	Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

_____________________

*    Furnished herewith.

**    Filed herewith.

43

***    Attached as Exhibit 101 to this report are the following formatted in Inline XBRL (Extensible Business Reporting Language): (i) Consolidated Balance Sheets as of March 27, 2026 and December 26, 2025, (ii) Consolidated Statements of Operations for the quarters ended March 27, 2026 and March 28, 2025, (iii) Consolidated Statements of Comprehensive Income for the quarters ended March 27, 2026 and March 28, 2025, (iv) Consolidated Statements of Cash Flows for the quarters ended March 27, 2026 and March 28, 2025, (v) Consolidated Statements of Shareholders' Equity for the quarters ended March 27, 2026 and March 28, 2025 and (vi) Notes to Consolidated Financial Statements.

44

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Fresh Del Monte Produce Inc.
Date:	May 5, 2026	By:	/s/ Mohammed Abbas
			Mohammed Abbas
			President & Chief Operating Officer (Duly Authorized Officer)
		By:	/s/ Monica Vicente
			Monica Vicente
			Senior Vice President & Chief Financial Officer (Principal Financial Officer)

45

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, Mohammad Abu-Ghazaleh, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Fresh Del Monte Produce Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	May 5, 2026
Signature:	/s/ Mohammad Abu-Ghazaleh
Title:	Chairman and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION

I, Monica Vicente, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Fresh Del Monte Produce Inc.;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	May 5, 2026
Signature:	/s/ Monica Vicente
Title:	Senior Vice President and Chief Financial Officer

EX-32

EXHIBIT 32

CERTIFICATIONS

PURSUANT TO 18 USC SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

We, Mohammad Abu-Ghazaleh and Monica Vicente, as Chief Executive Officer and Chief Financial Officer, respectively, of Fresh Del Monte Produce Inc. (the “Company”), hereby certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to our knowledge:

(1)the accompanying Quarterly Report on Form 10-Q of the Company for the period ended March 27, 2026, as filed with the U.S. Securities and Exchange Commission on the date hereof (the “Report”), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:	May 5, 2026	By:	/s/ Mohammad Abu-Ghazaleh
		Name:	Mohammad Abu-Ghazaleh
		Title:	Chairman and Chief Executive Officer
Date:	May 5, 2026	By:	/s/ Monica Vicente
		Name:	Monica Vicente
		Title:	Senior Vice President and Chief Financial Officer

XML

Cover Page - shares	3 Months Ended
	Mar. 27, 2026	Apr. 24, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 27, 2026
Document Transition Report	false
Entity File Number	333-07708
Entity Registrant Name	FRESH DEL MONTE PRODUCE INC
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	c/o H&C Corporate Services Limited
Entity Address, Address Line Two	P.O. Box 1569, 6th Floor, Athena Tower, 71 Fort Street
Entity Address, City or Town	George Town,
Entity Address, Postal Zip Code	KY1-1110
Entity Address, Country	KY
City Area Code	305
Local Phone Number	520-8400
Title of 12(b) Security	Ordinary Shares, $0.01 Par Value Per Share
Trading Symbol	FDP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (shares)		47,576,609
Entity Central Index Key	0001047340
Current Fiscal Year End Date	--01-01
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Amendment Flag	false

XML

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 27, 2026	Dec. 26, 2025
Current assets:
Cash and cash equivalents	$ 66.3	$ 35.7
Trade accounts receivable, net of allowance of $36.4 and $38.2, respectively	434.3	376.1
Other accounts receivable, net of allowance of $5.2 and $4.9, respectively	96.7	85.9
Inventories, net	728.4	581.9
Assets held for sale	14.9	9.6
Prepaid expenses and other current assets	36.5	51.6
Total current assets	1,377.1	1,140.8
Investments in and advances to unconsolidated companies	42.7	63.2
Property, plant and equipment, net	1,216.8	1,119.5
Operating lease right-of-use assets	191.4	192.8
Goodwill	389.8	390.0
Intangible assets, net	61.2	33.1
Deferred income taxes	47.9	45.5
Other noncurrent assets	75.5	74.1
Total assets	3,402.4	3,059.0
Current liabilities:
Accounts payable and accrued expenses	518.8	467.3
Current maturities of debt and finance leases	7.0	1.5
Current maturities of operating leases	46.5	45.4
Income taxes and other taxes payable	15.8	15.1
Total current liabilities	588.1	529.3
Long-term Debt and Lease Obligation	451.5	176.2
Retirement benefits	102.9	92.4
Deferred income taxes	80.3	79.1
Operating leases, less current maturities	123.9	125.9
Other noncurrent liabilities	26.2	25.9
Total liabilities	1,372.9	1,028.8
Commitments and Contingencies (See note 9)
Shareholders' equity:
Preferred shares, $0.01 par value; 50,000,000 shares authorized; none issued or outstanding	0.0	0.0
Ordinary shares, $0.01 par value; 200,000,000 shares authorized; 47,573,508 and 47,373,027 issued and outstanding, respectively	0.5	0.5
Paid-in capital	608.5	606.6
Retained earnings	1,439.7	1,447.3
Accumulated other comprehensive loss	(33.9)	(38.2)
Total Fresh Del Monte Produce Inc. shareholders' equity	2,014.8	2,016.2
Noncontrolling interests	14.7	14.0
Total shareholders' equity	2,029.5	2,030.2
Total liabilities and shareholders' equity	$ 3,402.4	$ 3,059.0

XML

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 27, 2026	Dec. 26, 2025
Statement of Financial Position [Abstract]
Allowance for Trade accounts receivable	$ 36.4	$ 38.2
Allowance for Other accounts receivable	$ 5.2	$ 4.9
Preferred shares, par value (usd per share)	$ 0.01	$ 0.01
Preferred shares, authorized (shares)	50,000,000	50,000,000
Preferred shares, issued (shares)	0	0
Preferred shares, outstanding (shares)	0	0
Ordinary shares, par value (usd per share)	$ 0.01	$ 0.01
Ordinary shares, authorized (shares)	200,000,000	200,000,000
Ordinary shares, issued (shares)	47,573,508
Ordinary shares, outstanding (shares)	47,573,508

XML

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Income Statement [Abstract]
Net sales	$ 1,044.1	$ 1,098.4
Cost of products sold	955.1	1,006.2
Gross profit	89.0	92.2
Selling, general and administrative expenses	51.1	48.1
Gain on disposal of property, plant and equipment, net	2.2	0.8
Asset impairment and other charges, net	20.0	0.0
Operating income	20.1	44.9
Interest expense	2.2	3.4
Interest income	0.3	0.1
Income from equity method investments	6.6	0.0
Other expense, net	6.3	2.8
Income before income taxes	18.5	38.8
Income before income taxes	7.8	6.9
Net income	10.7	31.9
Net income	0.7	0.8
Less: Net income attributable to noncontrolling interests	$ 10.0	$ 31.1
Net income per ordinary share attributable to Fresh Del Monte Produce Inc. - Basic (usd per share)	$ 0.21	$ 0.65
Net income per ordinary share attributable to Fresh Del Monte Produce Inc. - Diluted (usd per share)	0.21	0.64
Dividends declared per ordinary share (usd per share)	$ 0.30	$ 0.30
Dividends declared per ordinary share
Basic (shares)	47,449,871	47,956,338
Diluted (shares)	47,869,455	48,268,620

XML

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 10.7	$ 31.9
Other comprehensive income:
Net unrealized gain (loss) on derivatives, net of tax	8.4	(2.4)
Net unrealized foreign currency translation (loss) gain	(4.7)	6.9
Net change in retirement benefit adjustment, net of tax	0.6	(0.3)
Comprehensive income	15.0	36.1
Less: Comprehensive income attributable to noncontrolling interests	0.7	0.8
Comprehensive income attributable to Fresh Del Monte Produce Inc.	$ 14.3	$ 35.3

XML

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Operating activities:
Net income	$ 10.7	$ 31.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16.1	18.5
Amortization of debt issuance costs	0.1	0.1
Share-based compensation expense	2.5	2.3
Asset impairments	16.1	0.0
Change in uncertain tax positions	0.7	(0.9)
Gain on disposal of property, plant and equipment, net	(2.2)	(0.8)
Income from equity method investments	(6.6)	0.0
Deferred income taxes	(1.2)	(4.4)
Other, net	(0.2)	(0.4)
Changes in operating assets and liabilities
Receivables	(62.9)	(38.7)
Inventories	21.0	(5.4)
Prepaid expenses and other current assets	(1.6)	(0.8)
Accounts payable and accrued expenses	50.8	46.1
Other assets and liabilities	0.8	(1.4)
Net cash provided by operating activities	44.1	46.1
Investing activities:
Capital expenditures	(14.4)	(10.0)
Proceeds from sales of property, plant and equipment	12.8	1.9
Acquisition of select assets of Del Monte Foods, net of cash acquired		0.0
Distributions received from unconsolidated companies	29.6	0.0
Investments in and advances to unconsolidated companies	(2.5)	(1.2)
Other investing activities	0.0	(0.5)
Net cash used in investing activities	(282.2)	(8.8)
Financing activities:
Proceeds from debt	266.9	148.4
Payments on debt	(1.9)	(159.5)
Distributions to noncontrolling interests	0.0	(0.1)
Share-based awards settled in cash for taxes	(1.7)	(0.9)
Dividends paid	(14.2)	(14.4)
Repurchase and retirement of ordinary shares	4.0	7.6
Other financing activities	(0.4)	(0.4)
Net cash provided by (used in) financing activities	244.7	(34.5)
Effect of exchange rate changes on cash	(1.0)	(1.0)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	5.6	1.8
Cash, cash equivalents and restricted cash, beginning	64.2	32.6
Cash, cash equivalents and restricted cash, ending	69.8	34.4
Supplemental cash flow information:
Cash paid for interest	2.2	4.2
Cash paid for income taxes	5.2	1.8
Non-cash financing and investing activities:
Right-of-use assets obtained in exchange for new operating lease obligations	6.8	14.9
Noncash or Part Noncash Acquisitions [Table]	1.1	0.0
Dividends on restricted stock units	0.6	$ 0.4
Del Monte Foods
Investing activities:
Acquisition of select assets of Del Monte Foods, net of cash acquired	(307.7)
Financing activities:
Cash, cash equivalents and restricted cash, beginning	64.2
Cash, cash equivalents and restricted cash, ending	$ 69.8

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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (Unaudited) - USD ($) $ in Millions	Total	Ordinary Shares	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Fresh Del Monte Produce Inc. Shareholders' Equity	Noncontrolling Interests	Total Shareholders' Equity
Balance, shares (shares) at Dec. 27, 2024		47,940,300
Balance, value at Dec. 27, 2024		$ 0.5	$ 605.0	$ 1,435.4	$ (50.4)	$ 1,990.5	$ 16.3	$ 2,006.8
Settlement of restricted stock units (shares)		237,959
Share-based payment expense			2.3			2.3		2.3
Distribution to noncontrolling interests							(0.1)	(0.1)
Stock Repurchased During Period, Shares		(253,850)
Stock Repurchased During Period, Value			(2.3)			(7.7)		(7.7)
Repurchase and retirement of ordinary shares				5.4
Dividends, Common Stock			0.4
Dividend declared				14.8		14.4		14.4
Comprehensive income:
Net income	$ 31.9			31.1		31.1	0.8	31.9
Net unrealized gain (loss) on derivatives, net of tax	(2.4)				(2.4)	(2.4)		(2.4)
Net unrealized foreign currency translation (loss) gain	6.9				6.9	6.9		6.9
Change in retirement benefit adjustment, net of tax	(0.3)				(0.3)	(0.3)		(0.3)
Comprehensive income (loss)	$ 36.1					35.3	0.8	36.1
Balance, shares (shares) at Mar. 28, 2025		47,924,409
Balance, value at Mar. 28, 2025		$ 0.5	605.4	1,446.3	(46.2)	2,006.0	17.0	2,023.0
Balance, shares (shares) at Dec. 26, 2025		47,373,027
Balance, value at Dec. 26, 2025	$ 2,030.2	$ 0.5	606.6	1,447.3	(38.2)	2,016.2	14.0	2,030.2
Settlement of restricted stock units (shares)		300,481
Share-based payment expense			2.5			2.5		2.5
Repurchase and retirement of ordinary shares (shares)		100,000
Repurchase and retirement of ordinary shares			1.2	2.8		4.0		4.0
Dividends, Common Stock			0.6
Dividend declared				14.8		14.2		14.2
Comprehensive income:
Net income	10.7			10.0		10.0	0.7	10.7
Net unrealized gain (loss) on derivatives, net of tax	8.4				8.4	8.4		8.4
Net unrealized foreign currency translation (loss) gain	(4.7)				(4.7)	(4.7)		(4.7)
Change in retirement benefit adjustment, net of tax	0.6				0.6	0.6		0.6
Comprehensive income (loss)	$ 15.0					14.3	0.7	15.0
Balance, shares (shares) at Mar. 27, 2026	47,573,508	47,573,508
Balance, value at Mar. 27, 2026	$ 2,029.5	$ 0.5	$ 608.5	$ 1,439.7	$ (33.9)	$ 2,014.8	$ 14.7	$ 2,029.5

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General

3 Months Ended

Mar. 27, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

General

General

Reference in this Report to “Fresh Del Monte”, “we”, “our” and “us” and the “Company” refer to Fresh Del Monte Produce Inc. and its subsidiaries, unless the context indicates otherwise.

Nature of Business

We were incorporated under the laws of the Cayman Islands in 1996. We are one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and marketer of prepared fruit and vegetables, juices, beverages and snacks in Europe, Africa and the Middle East. We market our products worldwide under the Del Monte® brand, a symbol of product innovation, quality, freshness and reliability since 1892. Our major sales markets are organized as follows: North America, Europe, the Middle East (which includes North Africa) and Asia. Our global sourcing and logistics system allows us to provide regular delivery of consistently high-quality produce and value-added services to our customers. Our major production operations are located in North, Central and South America, Asia and Africa. Our products are sourced from company-owned operations and through supply contracts with independent growers.

Our Chief Operating Decision Maker ("CODM") is our Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer ("the CODM Group"). As disclosed in Note 14, "Business Segment Data", during the quarter ended March 27, 2026, we realigned certain of our reportable segments to conform with changes of our organizational structure, including how our CODM regularly reviews the performance of, and allocates resources to, these segments. Our historical segment reporting has been recast to reflect our current organizational structure which is now comprised of four reportable segments, three of which represent our primary businesses of fresh and value-added products, banana and prepared foods, and one that represents our other ancillary businesses.

•Fresh and value-added products - includes pineapples, fresh-cut fruit, fresh-cut vegetables (which includes fresh-cut salads), melons, vegetables, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, and avocados.

•Banana

•Prepared Foods - includes prepared fruit and vegetables, juices, other beverages, and meals and snacks.

•Other products and services - includes our third-party freight and logistic services business, our Jordanian poultry and meats business and our specialty ingredients business.

Acquisition of Del Monte Foods Assets

On March 19, 2026, we completed our acquisition of select assets of Del Monte Foods Corporation II Inc. and its affiliates ("Del Monte Foods") following a court-supervised bankruptcy auction process under Section 363 of the U.S. Bankruptcy Code for consideration of $310.2 million. For additional information, see Note 3, "Acquisitions".

Basis of Presentation

The accompanying unaudited Consolidated Financial Statements for the quarter ended March 27, 2026 have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature considered necessary for fair presentation have been included. Operating results for the quarter ended March 27, 2026 are subject to significant seasonal variations and are not necessarily indicative of the results that may be expected for the year ending January 1, 2027. For further information, refer to the Consolidated Financial Statements and notes thereto included in our annual report on Form 10-K for the fiscal year ended December 26, 2025.

We are required to evaluate events occurring after March 27, 2026 for recognition and disclosure in the unaudited Consolidated Financial Statements for the quarter ended March 27, 2026. Events are evaluated based on whether they represent information existing as of March 27, 2026, which require recognition in the unaudited Consolidated Financial Statements, or new events occurring after March 27, 2026 which do not require recognition but require disclosure if the event is significant to the unaudited Consolidated Financial Statements. We evaluated events occurring subsequent to March 27, 2026 through the date of issuance of these unaudited Consolidated Financial Statements.

Reclassification of Prior Period Presentation

Certain reclassifications of prior periods have been made to our Consolidated Statement of Operations and our operating cash flows within our Consolidated Statement of Cash Flows to conform to the current period presentation. These reclassifications had no effect on our balance sheet, operating and net income, or total cash flows from operating, investing, and financing activities previously presented.

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Recently Issued Accounting Pronouncements

3 Months Ended

Mar. 27, 2026

Accounting Standards Update and Change in Accounting Principle [Abstract]

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

New Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). This ASU amends Accounting Standards Codification (ASC) 220 to require additional disclosure of certain expense information on an annual and interim basis, including but not limited to the amounts of purchases of inventory, employee compensation and depreciation and intangible asset amortization included within each income statement expense caption, as applicable. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027 with early adoption permitted. ASU 2024-03 should be applied prospectively; however, retrospective application is permitted. We are currently evaluating the impact of the adoption of this ASU on our consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"). This ASU amends ASC 350 to now require entities to commence capitalizing eligible software costs when (i) management has authorized and committed to funding the software project, and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. The new standard also supersedes the guidance related to costs incurred to develop a website. ASU 2025-06 is effective for years beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements.

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Acquisition

3 Months Ended

Mar. 27, 2026

Business Combination [Abstract]

Acquisition

Acquisitions

On February 6, 2026, we entered into an Asset Purchase Agreement (the "APA") to acquire select assets of Del Monte Foods Corporation II Inc. and its affiliates ("Del Monte Foods") following a court-supervised bankruptcy auction process under Section 363 of the U.S. Bankruptcy Code which closed on March 19, 2026 (the "Closing Date"). Per the terms of the APA, we acquired (i) the prepared and packaged foods businesses of Del Monte Foods comprising canned vegetable, tomato, and refrigerated fruit business assets operated under the Del Monte®, S&W®, Contadina®, and Take Root Organics® trademarks, (ii) the bubble tea business operated under the Joyba® trademarks, (iii) four US facilities, two facilities in Mexico, and one facility in Venezuela and (iv) global ownership of the Del Monte® brand, which is subject to existing licensing arrangements across different regions and categories (the “Acquisition”). The APA also provided for the acquisition of 100% of the voting interests of Del Monte Foods Mexico and South American subsidiaries (the "Purchased Entities"), assumption of customer and supplier contracts as defined in the APA, as well as inventory at closing. The acquisition reunites the Del Monte® brand under a single owner for the first time in nearly four decades, expanding our prepared foods business and aligning with our existing fresh business under a global strategy to expand household penetration and enhance operational efficiency, flexibility, and cost structure.

On the Closing Date, we entered into Amendment No. 1 to the Asset Purchase Agreement (the “Amendment”) with Del Monte Foods. The Amendment amended the APA to, among other things, (i) provide for the inclusion of additional contracts in the Purchased Contracts and Excluded Contracts schedules; (ii) update the schedule of Del Monte Foods’ employees that were offered employment by the Company or its designee and clarify the benefits to be provided to such employees, (iii) provide for the assumption of certain additional liabilities by the Company, (iv) clarify the post-closing obligations of the parties with respect to certain intercompany loans and Purchased Entities, (v) confirm the obligations of Del Monte Foods with respect to a pre-closing cybersecurity incident, and (vi) make other non-material revisions.

The Acquisition was accounted for as a business combination under ASC 805 with a total initial purchase consideration of $310.2 million, including base cash consideration of $285.0 million which includes $25.0 million from a portion of the escrow deposit and net of other adjustments per the APA. We funded the purchase consideration using cash on hand, our existing escrow deposit and proceeds from the Company's existing 2024 Amended Credit Facility as defined and described in Note 10, "Debt and Finance Lease Obligations". Prior to the Acquisition, we held a perpetual, royalty-free license to use the Del Monte® brand for processed and/or canned food in various countries throughout Europe, Africa, the Middle East and certain Asian Countries, as well as an agreement to utilize the Del Monte® brand for certain prepared food products in North America. We previously recognized the value of these rights as indefinite-lived intangible assets with a carrying value of $31.7 million. As a result of the Acquisition, including our purchase of the rights to the Del Monte® brand in regions where we previously held royalty-free licenses, the agreements were effectively settled resulting in the fair value of the settled licenses being included in the total purchase consideration. Accordingly, when including the effect of the effective settlement, total purchase consideration for the Acquisition as determined under ASC 805 was $341.9 million.

The following table summarizes the fair values of the net assets acquired and liabilities assumed on the Closing Date. Due to the timing of the Acquisition during the quarter, we are still finalizing and reviewing the estimated fair values of the assets acquired and liabilities assumed. Accordingly, measurement period adjustments, such as those to the provisional measurements of inventory, trade names and property, plant and equipment, may be recorded as the valuation procedures are finalized which may result in a change to our fair value allocation.

	At March 19, 2026
Assets acquired
Cash and cash equivalents	$	1.5
Trade accounts receivable	4.1
Other accounts receivable	15.1
Inventories(1)	168.2
Assets held for sale	2.5
Prepaid expenses and other current assets	8.6
Property, plant and equipment (2)	120.1
Operating lease right-of-use assets	4.7
Deferred income taxes	5.8
Other noncurrent assets	0.3
Trade names	60.1
Liabilities assumed
Accounts payable and accrued expenses	13.2
Current maturities of debt and finance leases	5.4
Current maturities of operating leases	3.3
Income taxes and other taxes payable	5.8
Long-term debt and finance leases	10.7
Retirement benefits	9.3
Operating leases, less current maturities	1.4
Net assets acquired	$	341.9

(1) Includes an inventory valuation step-up of $6.2 million. The preliminary fair value was determined based on level 3 inputs which included the estimated selling price of the inventory, less the remaining estimated costs to sell such inventory at estimated normal profit margin.

(2) Includes $16.1 million of right‑of‑use assets related to the bubble tea business operated under the Joyba® trademark. Based on our decision to discontinue production of Joyba® after the Closing Date, we recorded an impairment of these right-of-use assets during the quarter ended March 27, 2026. See Note 5, "Asset Impairment and Other Charges, Net".

Intangible assets acquired

The fair value of the Del Monte®, S&W®, and Contadina® was estimated using the royalty savings method, an income approach technique that reflects the royalty expense a market participant would avoid by owning rather than licensing each brand. Key assumptions included in this measurement are forecasted revenue and cash flows attributable to each brand, the royalty rate, and discount rate. Based on our expected usage of each brand, we determined the Del Monte®, S&W®, and Contadina® brands to have indefinite useful lives.

The valuation of the trade names relied on significant unobservable inputs and are classified as level 3 fair value measurements.

Operations of Del Monte Foods Assets

Operations of the acquired Del Monte Foods assets under the APA generated approximately $24.3 million of revenue and $(16.0) million of net loss before provision for income taxes for the period from the Closing Date through March 27, 2026, inclusive of impairment charges taken on the Joyba® right-of-use assets.

During the quarter ended March 27, 2026, we incurred $3.5 million of acquisition-related costs, which primarily consist of compensatory, advisory, legal, accounting, valuation, other professional and consulting fees related to the Acquisition, and are included in the line item “Asset impairment and other charges, net” in our Consolidated Statement of Operations.

Unaudited Supplemental Pro Forma Results (in millions)

The following unaudited pro forma combined financial information presents our results including Del Monte Foods as if the business combination had occurred at the beginning of fiscal year 2025. The unaudited pro forma information is not necessarily indicative of the results that the Company would have achieved had the Acquisition actually occurred at the beginning of fiscal year 2025, nor does such information purport to be indicative of future financial operating results.

	Quarter ended
	March 27, 2026		March 28, 2025
Net sales	$	1,213.0	$	1,316.5
Net income (loss)	(19.4)		(17.5)
Net income (loss) attributable to Fresh Del Monte Produce Inc.	$	(20.1)	$	(18.3)

The unaudited pro forma results reflect certain pro forma adjustments to revenue and net income that were directly attributable to the Acquisition, assuming the transaction occurred on the beginning of fiscal year 2025, including the following:

•the recognition of incremental depreciation and amortization expense related to the fair value adjustments of acquired property, plant and equipment and identifiable intangible assets;

•the amortization of the inventory fair value adjustment of $2.3 million;

•the recognition of transaction-related costs of $5 million incurred by the Company to effectuate the Acquisition; and

•the related tax effect of the adjustments above.

Restricted Cash

At March 27, 2026 and December 26, 2025, we held $3.5 million and $28.5 million, respectively in an escrow account in connection with the Acquisition. These amounts are presented under prepaid expenses and other current assets on our Consolidated Balance Sheets.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash in our Consolidated Balance Sheets, that reconcile to the amounts shown on the Consolidated Statements of Cash Flows:

	March 27, 2026		December 26, 2025
Cash and cash equivalents	$	66.3	$	35.7
Restricted cash included in:
Prepaid expenses and other current assets	3.5		28.5
Total cash, cash equivalents and restricted cash	$	69.8	$	64.2

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Investments in and Advances to Unconsolidated Companies

3 Months Ended

Mar. 27, 2026

Investments in and Advances to Affiliates [Abstract]

Investments in and Advances to Unconsolidated Companies

Investments in and Advances to Unconsolidated Companies

Investments in and advances to unconsolidated companies amounted to $42.7 million as of March 27, 2026 and $63.2 million as of December 26, 2025. These investments are accounted for under the equity method of accounting, and primarily relate to investments in limited partnerships and joint ventures in the food, nutrition and agricultural technology sectors. Our investments in unconsolidated companies include investments in companies who qualify as investment companies pursuant to Accounting Standards Codification Topic 946, Financial Services - Investment Companies ("ASC 946") and, accordingly, are carried at net asset value ("NAV"), which approximates fair value. Our investments in unconsolidated companies which qualify as investment companies under ASC 946, which make up approximately $32.0 million of the balance as of March 27, 2026 and $52.9 million of the balance as of December 26, 2025, cannot be redeemed, but the funds will make distributions through liquidation. The estimate of the liquidation period varies from 2027 to 2037. Total unfunded commitments related to our investments in and advances to unconsolidated companies as of March 27, 2026 were $10.6 million.

Distributions received from these investments were $29.6 million and $0.8 million for the quarters ended March 27, 2026 and March 28, 2025. The $29.6 million distribution received during the quarter ended March 27, 2026 was as a result of the January 2026 liquidation of an investment fund whose carrying value made up $23.0 million of our investments in and advances to unconsolidated companies as of December 26, 2025.

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Asset Impairment and Other Charges (Credits), Net

3 Months Ended

Mar. 27, 2026

Asset Impairment and Other Charges (Credits), Net [Abstract]

Asset Impairment and Other Charges (Credits), Net

Asset Impairment and Other Charges, Net

The following represents a summary of asset impairment and other charges, net recorded during the quarters ended March 27, 2026 and March 28, 2025 (U.S. dollars in millions):

	Quarter ended
	March 27, 2026						March 28, 2025
	Long-lived and other asset impairment		Exit activity and other  charges		Total		Long-lived and other asset impairment		Exit activity and other  charges		Total
Prepared segment:
Impairment of right-of-use asset (1)	$	16.1	$	—	$	16.1	$	—	$	—	$	—
Other:
Business transaction costs related to acquisition of Del Monte Foods (2)	—		3.5		3.5		—		—		—
Severance costs for transition employees related to acquisition of Del Monte Foods	—		0.4		0.4		—		—		—
Total asset impairment and other charges, net	$	16.1	$	3.9	$	20.0	$	—	$	—	$	—

(1) During the quarter ended March 27, 2026, we recorded impairment charges of $16.1 million related to right-of-use assets acquired from Del Monte Foods for product lines we do not intend to operate. See Note 3, "Acquisitions".

(2) During the quarter ended March 27, 2026, we recorded $3.5 million in business transaction costs, primarily related to transaction advisory fees, legal, consulting, and accounting expenses, related to our acquisition of Del Monte Foods. See Note 3, “Acquisitions”.

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Income Taxes

3 Months Ended

Mar. 27, 2026

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

In connection with the examination of the tax returns in three foreign jurisdictions, the taxing authorities have issued income tax deficiencies related to transfer pricing aggregating approximately $272.5 million (including interest and penalties) for tax years 2012 through 2021. We strongly disagree with the proposed adjustments and have filed a protest with each of the taxing authorities.

In one foreign jurisdiction, we are currently contesting tax assessments related to the 2012-2015 audit years and the 2016 audit year in both the administrative court and the judicial court. During 2019 and 2020, we filed actions contesting the tax assessment in the administrative office. Our initial challenge to each of these tax assessments was rejected, and we subsequently lost our appeals at the administrative court. We have subsequently filed actions to contest each of these tax assessments in the country’s judicial courts. In addition, we have filed a request for injunction to the judicial court to stay the tax authorities' collection efforts for these two tax assessments, pending final judicial decisions. The court granted our injunction with respect to the 2016 audit year, however denied our injunction with respect to the 2012-2015 audit years. We timely appealed the denial of the injunction, and on August 10, 2022 the appellate court overturned the denial and granted our injunction for the 2012-2015 audit years with a trial date set for July 4, 2025. During June 2025, we were notified of the hearing being suspended until further notice due to a pending constitutional remedy affecting a rule included in the arguments. Pursuant to local law, we registered real estate collateral with an approximate fair market value of $7.9 million in connection with the grant of the 2016 audit year injunction. This real estate collateral has a net book value of $3.8 million as of the quarter ended March 27, 2026. In addition, in connection with the grant of the 2012-2015 audit year injunction, we registered real estate collateral with an approximate fair market value of $32.9 million, and a net book value of $4.6 million as of the quarter ended March 27, 2026. The registration of this real estate collateral does not affect our operations in the country.

In the second foreign jurisdiction, the administrative court denied our appeal, and on March 4, 2020 we filed an action in the judicial court to contest the administrative court's decision. The case is still pending.

In the third foreign jurisdiction, we received tax assessments related to the 2018-2021 audit years. We filed objections contesting these assessments and subsequently initiated appeals. On January 16, 2026, the Company received an unfavorable decision related to the appeals. On February 9, 2026, we filed an action to pursue further appeal through the applicable appellate forum. The case remains pending.

We will continue to vigorously contest the adjustments and intend to exhaust all administrative and judicial remedies necessary in both jurisdictions to resolve the matters, which could be a lengthy process.

We regularly assess the likelihood of adverse outcomes resulting from examinations such as these to determine the adequacy of our tax reserves. Accordingly, we have not accrued any additional amounts based upon the proposed adjustments. There can be no assurance that these matters will be resolved in our favor, and an adverse outcome of either matter, or any future tax examinations involving similar assertions, could have a material effect on our financial condition, results of operations and cash flows.

Additionally, the European Union (EU) Member States formally adopted the EU’s Pillar Two Directive, which generally provides for a minimum effective tax rate of 15%, as established by the Organization for Economic Co-operation and Development (OECD) Pillar Two Framework. Pursuant to the implementation dates prescribed in the Directive, the rules became effective for the Company for the 2025 fiscal year. We have evaluated the impact of the global minimum tax rules under Pillar Two for the current interim period. The effect of Pillar Two has been reflected in our estimated annual effective tax rate used to determine income tax expense in accordance with ASC 740 for the quarter ended March 27, 2026.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. We are continuing to assess its impact on our consolidated financial statements.

Income tax provision was $7.8 million for the quarter ended March 27, 2026 compared with $6.9 million for the quarter ended March 28, 2025. The increase is primarily due to increased earnings in certain higher tax jurisdictions. In addition, the increase also reflects the impact of the implementation of global minimum tax rules under Pillar Two.

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Allowance for Credit Losses

3 Months Ended

Mar. 27, 2026

Receivables [Abstract]

Allowance for Credit Losses

Allowance for Credit Losses

We estimate expected credit losses on our trade receivables and financing receivables in accordance with Accounting Standards Codification (“ASC”) 326 - Financial Instruments - Credit Losses.

Trade Receivables

Trade receivables as of March 27, 2026 were $434.3 million, net of allowances of $36.4 million. Our allowance for trade receivables consists of two components: a $16.4 million allowance for credit losses and a $19.7 million allowance for customer claims accounted for under the scope of ASC 606 - Revenue Recognition.

As a result of our robust credit monitoring practices, the industry in which we operate, and the nature of our customer base, the credit losses associated with our trade receivables have historically been insignificant in comparison to our annual net sales. We measure the allowance for credit losses on trade receivables on a collective (pool) basis when similar risk characteristics exist. We generally pool our trade receivables based on the geographic region or country to which the receivables relate. Receivables that do not share similar risk characteristics are evaluated for collectability on an individual basis.

Our historical credit loss experience provides the basis for our estimation of expected credit losses. We generally use a three-year average annual loss rate as a starting point for our estimation, and make adjustments to the historical loss rate to account for differences in current conditions impacting the collectability of our receivable pools. We generally monitor macroeconomic indicators to assess whether adjustments are necessary to reflect current conditions.

The table below presents a rollforward of our trade receivable allowance for credit losses for the quarters ended March 27, 2026 and March 28, 2025 (U.S. dollars in millions):

	Quarter ended
Trade receivables	March 27, 2026		March 28, 2025
Allowance for credit losses:
Balance, beginning of period	$	16.8	$	11.5
Provision for uncollectible amounts	—		0.6
Deductions to allowance related to write-offs	(0.1)		(0.4)
Recoveries of amounts previously allowed for	(0.2)		(0.2)
Foreign exchange effects	(0.1)		0.1
Balance, end of period	$	16.4	$	11.6

Financing Receivables

Financing receivables are included in other accounts receivable, net on our Consolidated Balance Sheets and are recognized at amortized cost less an allowance for estimated credit losses. Financing receivables include seasonal advances to growers and suppliers, which are usually short-term in nature, and other financing receivables.

A significant portion of the fresh produce we sell is acquired through supply contracts with independent growers. In order to ensure the consistent high quality of our products and packaging, we make advances to independent growers and suppliers. These growers and suppliers typically sell all of their production to us and make payments on their advances as a deduction to the agreed upon selling price of the fruit or packaging material. The majority of the advances to growers and suppliers are for terms less than one year and typically span a growing season. In certain cases, there may be longer term advances with terms of up to ten years.

We measure the allowance for credit losses on advances to suppliers and growers on a collective (pool) basis when similar risk characteristics exist. We generally pool our advances based on the country to which they relate, and further disaggregate them based on their current or past-due status. We generally consider an advance to a grower to be past due when the advance is not fully paid within the respective growing season. The allowance for advances to growers and suppliers that do not share similar risk characteristics are determined on a case-by-case basis, depending on the expected production for the season and other contributing factors. The advances are typically collateralized by property liens and pledges of the respective season’s produce. Occasionally, we agree to a payment plan with these growers or take steps to recover the advance via established collateral. We may write-off uncollectible financing receivables after our collection efforts are exhausted.

Our historical credit loss experience provides the basis for our estimation of expected credit losses. We generally use a three-year average annual loss rate as a starting point for our estimation, and make adjustments to the historical loss rate to account for differences in current or expected future conditions. We generally monitor macroeconomic indicators as well as other factors, including unfavorable weather conditions and crop diseases, which may impact the collectability of the advances when assessing whether adjustments to the historical loss rate are necessary.

The following table details the advances to growers and suppliers based on their credit risk profile (U.S. dollars in millions):

	March 27, 2026				December 26, 2025
	Current		Past-Due		Current		Past-Due
Gross advances to growers and suppliers	$	15.0	$	20.8	$	10.7	$	22.3

The allowance for advances to growers and suppliers for the quarters ended March 27, 2026 and March 28, 2025 were as follows (U.S. dollars in millions):

	Quarter ended
	March 27, 2026		March 28, 2025
Allowance for advances to growers and suppliers:
Balance, beginning of period	$	27.1	$	12.1
Provision for uncollectible amounts	0.1		1.4
Balance, end of period	$	27.2	$	13.5

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Share-Based Compensation

3 Months Ended

Mar. 27, 2026

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Share-Based Compensation

Share-Based Compensation

We maintain various compensation plans for officers, other employees, and non-employee members of our Board of Directors. On June 2, 2022, our shareholders approved and ratified the 2022 Omnibus Share Incentive Plan (the “2022 Plan”). The 2022 Plan allows us to grant equity-based compensation awards including restricted stock units (“RSUs”), performance stock units (“PSUs”), stock options, and restricted stock awards. The 2022 Plan replaces and supersedes the 2014 Omnibus Share Incentive Plan (the “Prior Plan”). No awards can be granted under the Prior Plan upon adoption of the 2022 Plan. Under the 2022 Plan, the Board of Directors is authorized to award up to (i) 2,800,000 ordinary shares plus (ii) any ordinary shares remaining available for future awards under the Prior Plan at the time of adoption (of which there were approximately 241,263) plus (iii) any ordinary shares with respect to awards and Prior Plan awards that are forfeited, canceled, expire unexercised, or are settled in cash following adoption of the 2022 Plan.

Share-based compensation expense related to RSUs and PSUs is included in selling, general and administrative expenses in the accompanying Consolidated Statements of Operations and was comprised in the relevant periods as follows (U.S. dollars in millions): 

	Quarter ended
	March 27, 2026		March 28, 2025
RSUs/PSUs	$	2.5	$	2.3

Restricted Stock Units and Performance Stock Units

The following table lists the RSUs and PSUs awarded under the 2022 Plan during the quarters ended March 27, 2026 and March 28, 2025:

Date of Award	Type of award	Units awarded	Price per share
For the quarter ended March 27, 2026
March 2, 2026	RSU	214,923	$	43.02
For the quarter ended March 28, 2025
March 3, 2025	PSU	126,495	$	30.27
March 3, 2025	RSU	287,426	$	30.27

Under the 2022 Plan and Prior Plan, each RSU/PSU represents a contingent right to receive one of our ordinary shares. The PSUs are subject to meeting minimum performance criteria set by the Compensation Committee of our Board of Directors. The actual number of shares the recipient receives is determined based on the results achieved versus performance goals. Those performance goals are based on exceeding a measure of our earnings. Depending on the results achieved, the actual number of shares that an award recipient receives at the end of the period may range from 0% to 100% of the award units granted, or as it relates to the 2025, 2024 and 2023 PSU awards granted to our Chairman and Chief Executive Officer, 0% to 125% of the award units granted. Provided such criteria are met, the PSUs will vest in three equal annual installments on each of the next three anniversary dates provided that the recipient remains employed with us.

Expense for RSUs is recognized on a straight-line basis over the requisite service period for the entire award. RSUs vest annually in three equal installments over a three-year service period. RSUs granted to our Board of Directors generally vest after a one-year period.

The fair market value for RSUs and PSUs is based on the closing price of our stock on the grant date. We recognize expenses related to RSUs and PSUs based on the fair market value, as determined on the grant date, ratably over the vesting period, provided the performance condition, if any, is probable. Forfeitures are recognized as they occur.

RSUs and PSUs do not have the voting rights of ordinary shares, and the shares underlying the RSUs and PSUs are not considered issued and outstanding. However, shares underlying RSUs/PSUs are included in the calculation of diluted earnings per share to the extent the performance criteria are met, if any.

Each of our outstanding RSUs and PSUs are eligible to earn Dividend Equivalent Units (“DEUs”) equal to the cash dividend paid to ordinary shareholders. DEUs are subject to the same performance and/or service conditions as the underlying RSUs and PSUs and are forfeitable.

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Inventories, net

3 Months Ended

Mar. 27, 2026

Inventory Disclosure [Abstract]

Inventories, net

Inventories, net

Inventories consisted of the following (U.S. dollars in millions):

	March 27, 2026		December 26, 2025
Finished goods	$	311.2	$	185.0
Raw materials and packaging supplies	161.4		156.3
Growing crops	255.8		240.6
Total inventories, net	$	728.4	$	581.9

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Debt and Finance Lease Obligations

3 Months Ended

Mar. 27, 2026

Long-Term Debt and Lease Obligation [Abstract]

Debt and Finance Lease Obligations

Debt and Finance Lease Obligations

The following is a summary of long-term debt and finance lease obligations (U.S. dollars in millions):

 

	March 27, 2026		December 26, 2025
Senior unsecured revolving credit facility (see Credit Facility below)	$	438.0	$	173.0
Finance lease obligations	20.5		4.7
Total debt and finance lease obligations	458.5		177.7
Less:  Current maturities	(7.0)		(1.5)
Long-term debt and finance lease obligations	$	451.5	$	176.2

Credit Facility

On October 1, 2019, we entered into a Second Amended and Restated Credit Agreement (as amended, the “Second A&R Credit Agreement”) with Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner and certain other lenders. The Second A&R Credit Agreement provided for a five-year, $0.9 billion syndicated senior unsecured revolving credit facility maturing on October 1, 2024. The Second A&R Credit Agreement was subsequently amended on December 30, 2022, to replace the Eurocurrency Rate with the Term Secured Overnight Financing Rate ("Term SOFR" effective January 3, 2023.

On February 21, 2024, we entered into Amendment No. 2 to the Second Amended and Restated Credit Agreement (the “2024 Amended Credit Facility”) with Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner and certain other lenders. The 2024 Amended Credit Facility provides for a five-year, $0.75 billion syndicated senior unsecured revolving credit facility maturing on February 21, 2029. Amounts borrowed under the revolving credit facility accrue interest at a rate equal to the Term SOFR rate plus a margin that ranges from 1.0% to 1.625% based on our Consolidated Leverage Ratio (as defined in the 2024 Amended Credit Facility). The 2024 Amended Credit Facility also permits, under certain conditions, $200 million of Permitted Receivables Financing (as defined in the 2024 Amended Credit Facility). In addition, we pay a fee on unused commitments at a rate equal to 0.150% to 0.250% based on our Consolidated Leverage Ratio.

The 2024 Amended Credit Facility provides for an accordion feature that permits us, without the consent of the other lenders, to request that one or more lenders provide us with increases in revolving credit facility or term loans up to an aggregate of $300 million (“Incremental Increases”). The aggregate amount of Incremental Increases can be further increased to the extent that after giving effect to the proposed increase in revolving credit facility commitments or term loans our Consolidated Leverage Ratio, on a pro forma basis, would not exceed 2.75 to 1.00. Our ability to request such increases or term loans is subject to our compliance with customary conditions set forth in the 2024 Amended Credit Facility including compliance, on a pro forma basis, with certain financial covenants and ratios. Upon our request, each lender may decide, in its sole discretion, whether to increase all or a portion of its revolving credit facility commitment or provide term loans.

The 2024 Amended Credit Facility contains similar financial covenants to those included within the Second A&R Credit Agreement. Specifically, it requires us to maintain 1) a Consolidated Leverage Ratio of not more than 3.75 to 1.00 at any time during any period of four consecutive fiscal quarters, subject to certain exceptions and 2) minimum Consolidated Interest Coverage Ratio of not less than 2.25 to 1.00 as of the end of any fiscal quarter. As a result of our March 19, 2026 acquisition of select assets of Del Monte Foods meeting the definition of a Permitted Acquisition as defined in the 2024 Amended Credit Facility, the Consolidated Leverage Ratio required to be maintained was increased to not exceed 4.25 to 1.00 as of the end of the quarter ended March 27, 2026 and will remain at that level for the succeeding three fiscal quarters.

Additionally, it requires us to comply with certain other covenants, including limitations on capital investments, the amount of dividends that can be paid in the future, the amounts and types of liens and indebtedness, material asset sales, and mergers. Under the 2024 Amended Credit Facility, we are permitted to declare or pay cash dividends in any fiscal year up to an amount that does not exceed the greater of (i) an amount equal to (1) the greater of (A) 50% of the Consolidated Net Income (as defined in the 2024 Amended Credit Facility) for the immediately preceding fiscal year or (B) $25 million (the "Base Dividend Basket") plus (2) commencing in the fiscal year ending December 26, 2025 any portion of the Base Dividend Basket not used in the immediately preceding fiscal year, or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis as of the date of declaration or payment) to exceed 3.50 to 1.00. It also provides an allowance for stock repurchases to be an amount not exceeding the greater of (i) (A) $50,000,000 (the "Base Redemption Basket") plus (B) commencing in the fiscal year ending December 26, 2025, any portion of the Base Redemption Basket not used in the immediately preceding fiscal year or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis as of the date of such repurchase) to exceed 3.50 to 1.00. As of March 27, 2026, we were in compliance with all the covenants contained in the 2024 Amended Credit Facility.

In connection with the 2024 Amended Credit Facility, we paid lender and third-party fees of $2.2 million associated with the amendment. We concluded that the amendment resulted in a modification of debt and as such, determined that debt issuance costs incurred in connection with the 2024 Amended Credit Facility would be deferred and amortized over the term of the new arrangement. Debt issuance costs of $1.2 million and $1.3 million are included in other noncurrent assets on our Consolidated Balance Sheets as of March 27, 2026 and December 26, 2025, respectively.

The following is a summary of the material terms of the 2024 Amended Credit Facility and other working capital facilities at March 27, 2026 (U.S. dollars in millions):

	Term	Maturity date	Interest rate	Borrowing limit		Available borrowings, net of letters of credit and bank guarantees
Bank of America credit facility	5 years	February 21, 2029	4.78%	$	750.0	$	312.0
Rabobank letter of credit facility	364 days	June 12, 2026	Varies	25.0		14.3
Other working capital facilities	Varies	Varies	Varies	20.9		10.0
				$	795.9	$	336.3

The margin for Term SOFR advances as of March 27, 2026 was 1.000%. We intend to use funds borrowed under the 2024 Amended Credit Facility from time to time for general corporate purposes, which may include working capital needs, capital expenditures, funding of possible acquisitions, share repurchases, and satisfaction of other obligations.

As of March 27, 2026, we applied $31.6 million to letters of credit and bank guarantees issued from Rabobank Nederland, Bank of America, and other banks.

During 2018, we entered into interest rate swaps in order to hedge the risk of the fluctuation on future interest payments related to our variable rate borrowings from our revolving credit facility. During July 2024, outstanding interest rate swaps previously used to hedge the risk of fluctuation on future interest payments reached maturity or were terminated. Refer to Note 15, “Derivative Financial Instruments.”

Debt and Finance Lease Obligations

Debt and Finance Lease Obligations

The following is a summary of long-term debt and finance lease obligations (U.S. dollars in millions):

 

	March 27, 2026		December 26, 2025
Senior unsecured revolving credit facility (see Credit Facility below)	$	438.0	$	173.0
Finance lease obligations	20.5		4.7
Total debt and finance lease obligations	458.5		177.7
Less:  Current maturities	(7.0)		(1.5)
Long-term debt and finance lease obligations	$	451.5	$	176.2

Credit Facility

On October 1, 2019, we entered into a Second Amended and Restated Credit Agreement (as amended, the “Second A&R Credit Agreement”) with Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner and certain other lenders. The Second A&R Credit Agreement provided for a five-year, $0.9 billion syndicated senior unsecured revolving credit facility maturing on October 1, 2024. The Second A&R Credit Agreement was subsequently amended on December 30, 2022, to replace the Eurocurrency Rate with the Term Secured Overnight Financing Rate ("Term SOFR" effective January 3, 2023.

On February 21, 2024, we entered into Amendment No. 2 to the Second Amended and Restated Credit Agreement (the “2024 Amended Credit Facility”) with Bank of America, N.A. as administrative agent and BofA Securities, Inc. as sole lead arranger and sole bookrunner and certain other lenders. The 2024 Amended Credit Facility provides for a five-year, $0.75 billion syndicated senior unsecured revolving credit facility maturing on February 21, 2029. Amounts borrowed under the revolving credit facility accrue interest at a rate equal to the Term SOFR rate plus a margin that ranges from 1.0% to 1.625% based on our Consolidated Leverage Ratio (as defined in the 2024 Amended Credit Facility). The 2024 Amended Credit Facility also permits, under certain conditions, $200 million of Permitted Receivables Financing (as defined in the 2024 Amended Credit Facility). In addition, we pay a fee on unused commitments at a rate equal to 0.150% to 0.250% based on our Consolidated Leverage Ratio.

The 2024 Amended Credit Facility provides for an accordion feature that permits us, without the consent of the other lenders, to request that one or more lenders provide us with increases in revolving credit facility or term loans up to an aggregate of $300 million (“Incremental Increases”). The aggregate amount of Incremental Increases can be further increased to the extent that after giving effect to the proposed increase in revolving credit facility commitments or term loans our Consolidated Leverage Ratio, on a pro forma basis, would not exceed 2.75 to 1.00. Our ability to request such increases or term loans is subject to our compliance with customary conditions set forth in the 2024 Amended Credit Facility including compliance, on a pro forma basis, with certain financial covenants and ratios. Upon our request, each lender may decide, in its sole discretion, whether to increase all or a portion of its revolving credit facility commitment or provide term loans.

The 2024 Amended Credit Facility contains similar financial covenants to those included within the Second A&R Credit Agreement. Specifically, it requires us to maintain 1) a Consolidated Leverage Ratio of not more than 3.75 to 1.00 at any time during any period of four consecutive fiscal quarters, subject to certain exceptions and 2) minimum Consolidated Interest Coverage Ratio of not less than 2.25 to 1.00 as of the end of any fiscal quarter. As a result of our March 19, 2026 acquisition of select assets of Del Monte Foods meeting the definition of a Permitted Acquisition as defined in the 2024 Amended Credit Facility, the Consolidated Leverage Ratio required to be maintained was increased to not exceed 4.25 to 1.00 as of the end of the quarter ended March 27, 2026 and will remain at that level for the succeeding three fiscal quarters.

Additionally, it requires us to comply with certain other covenants, including limitations on capital investments, the amount of dividends that can be paid in the future, the amounts and types of liens and indebtedness, material asset sales, and mergers. Under the 2024 Amended Credit Facility, we are permitted to declare or pay cash dividends in any fiscal year up to an amount that does not exceed the greater of (i) an amount equal to (1) the greater of (A) 50% of the Consolidated Net Income (as defined in the 2024 Amended Credit Facility) for the immediately preceding fiscal year or (B) $25 million (the "Base Dividend Basket") plus (2) commencing in the fiscal year ending December 26, 2025 any portion of the Base Dividend Basket not used in the immediately preceding fiscal year, or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis as of the date of declaration or payment) to exceed 3.50 to 1.00. It also provides an allowance for stock repurchases to be an amount not exceeding the greater of (i) (A) $50,000,000 (the "Base Redemption Basket") plus (B) commencing in the fiscal year ending December 26, 2025, any portion of the Base Redemption Basket not used in the immediately preceding fiscal year or (ii) the greatest amount which would not cause the Consolidated Leverage Ratio (determined on a pro forma basis as of the date of such repurchase) to exceed 3.50 to 1.00. As of March 27, 2026, we were in compliance with all the covenants contained in the 2024 Amended Credit Facility.

In connection with the 2024 Amended Credit Facility, we paid lender and third-party fees of $2.2 million associated with the amendment. We concluded that the amendment resulted in a modification of debt and as such, determined that debt issuance costs incurred in connection with the 2024 Amended Credit Facility would be deferred and amortized over the term of the new arrangement. Debt issuance costs of $1.2 million and $1.3 million are included in other noncurrent assets on our Consolidated Balance Sheets as of March 27, 2026 and December 26, 2025, respectively.

The following is a summary of the material terms of the 2024 Amended Credit Facility and other working capital facilities at March 27, 2026 (U.S. dollars in millions):

	Term	Maturity date	Interest rate	Borrowing limit		Available borrowings, net of letters of credit and bank guarantees
Bank of America credit facility	5 years	February 21, 2029	4.78%	$	750.0	$	312.0
Rabobank letter of credit facility	364 days	June 12, 2026	Varies	25.0		14.3
Other working capital facilities	Varies	Varies	Varies	20.9		10.0
				$	795.9	$	336.3

The margin for Term SOFR advances as of March 27, 2026 was 1.000%. We intend to use funds borrowed under the 2024 Amended Credit Facility from time to time for general corporate purposes, which may include working capital needs, capital expenditures, funding of possible acquisitions, share repurchases, and satisfaction of other obligations.

As of March 27, 2026, we applied $31.6 million to letters of credit and bank guarantees issued from Rabobank Nederland, Bank of America, and other banks.

During 2018, we entered into interest rate swaps in order to hedge the risk of the fluctuation on future interest payments related to our variable rate borrowings from our revolving credit facility. During July 2024, outstanding interest rate swaps previously used to hedge the risk of fluctuation on future interest payments reached maturity or were terminated. Refer to Note 15, “Derivative Financial Instruments.”

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Commitments and Contingencies

3 Months Ended

Mar. 27, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Kunia Well Site

In 1980, elevated levels of certain chemicals were detected in the soil and ground-water at a plantation leased by one of our U.S. subsidiaries in Honolulu, Hawaii (the “Kunia Well Site”). In 2005, our subsidiary signed a Consent Decree (“Consent Decree”) with the Environmental Protection Agency (“EPA”) for the performance of the clean-up work for the Kunia Well Site. Based on findings from remedial investigations, our subsidiary coordinated with the EPA to evaluate the clean-up work required in accordance with the Consent Decree. On July 25, 2022, an Explanation of Significant Differences (ESD) for the Kunia Well Site was filed by the EPA, which formally transitioned the remedy for the Kunia Well Site to a Monitored Natural Attenuation (MNA), thereby reducing our potential liability.

The revised estimate associated with the clean-up costs, and on which our accrual is based, is $3.2 million. As of March 27, 2026, $2.7 million was included in other noncurrent liabilities, and $0.5 million was included in accounts payable and accrued expenses in the Consolidated Balance Sheets for the Kunia Well Site clean-up. We expect to expend approximately $0.5 million in 2026, $0.2 million in 2027, $0.2 million in 2028, $0.1 million in 2029, and $0.3 million in 2030.

Value Added Tax ("VAT") Receivables

In connection with administrative delays in a jurisdiction in which we operate, we have incurred delays in the collection of VAT refund claims made by the Company. As a result of those delays, as of March 27, 2026 we have classified $20.5 million of VAT receivables related to the jurisdiction as non-current assets which are included in other noncurrent assets in our Consolidated Balance Sheets. While we believe the amounts are collectible through standard administrative processes, these amounts may ultimately need to be recovered through administrative appeals or other legal means.

Additional Information

In addition to the foregoing, we are involved from time to time in various claims and legal actions incident to our operations, both as plaintiff and defendant. In the opinion of management, after consulting with legal counsel, none of these other claims is currently expected to have a material adverse effect on the results of operations, financial position or our cash flows.

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Earnings Per Share

3 Months Ended

Mar. 27, 2026

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic and diluted net income per ordinary share is calculated as follows (U.S. dollars in millions, except share and per share data):

	Quarter ended
	March 27, 2026		March 28, 2025
Numerator:
Net income attributable to Fresh Del Monte Produce Inc.	$	10.0	$	31.1
Denominator:
Weighted average number of ordinary shares - Basic	47,449,871		47,956,338
Effect of dilutive securities - share-based awards	419,584		312,282
Weighted average number of ordinary shares - Diluted	47,869,455		48,268,620
Antidilutive awards (1)	60,464		—
Net income per ordinary share attributable to Fresh Del Monte Produce Inc.:
Basic	$	0.21	$	0.65
Diluted	$	0.21	$	0.64

(1)Certain unvested RSUs and PSUs are not included in the calculation of net income per ordinary share because the effect would have been antidilutive.

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Retirement and Other Employee Benefits

3 Months Ended

Mar. 27, 2026

Retirement Benefits [Abstract]

Retirement and Other Employee Benefits

Retirement and Other Employee Benefits

The following table sets forth the net periodic benefit costs of our defined benefit pension plans and post-retirement benefit plans (U.S. dollars in millions):

	Quarter ended
	March 27, 2026		March 28, 2025
Service cost	$	1.9	$	1.6
Interest cost	1.9		1.9
Expected return on assets	(0.7)		(0.8)
Amortization of net actuarial loss	0.1		0.1
Net periodic benefit costs	$	3.2	$	2.8

We provide certain other retirement benefits to certain employees who are not U.S.-based and are not included above. Generally, benefits under these programs are based on an employee’s length of service and level of compensation. These programs are immaterial to our consolidated financial statements. The net periodic benefit costs related to other non-U.S. based plans is $0.6 million for the quarter ended March 27, 2026 and $0.5 million for the quarter ended March 28, 2025.

Service costs are presented in the same line item in the Consolidated Statements of Operations as other compensation costs arising from services rendered by the employees during the period. With the exception of service cost, the other components of net periodic benefit costs (which include interest costs, expected return on assets, curtailment and settlement expenses, and amortization of net actuarial losses) are recorded in the Consolidated Statements of Operations in other expense, net

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Business Segment Data

3 Months Ended

Mar. 27, 2026

Segment Reporting [Abstract]

Business Segment Data

Business Segment Data

During the quarter ended March 27, 2026, we realigned our reportable segments for financial reporting purposes to reflect changes in how we monitor business performance and allocate resources, including changes as a result of our acquisition of Del Monte Foods described in Note 3, "Acquisitions". The change resulted in our internal reporting breaking out the results of our prepared foods business, which includes prepared fruit and vegetables, juices, other beverages, and meals and snacks, which was previously reported as a part of our fresh and value-added products reportable segment. The change in our reportable segments did not result in a change to our reporting units for purposes of goodwill impairment testing. Prior period amounts have been recast to conform to the current period presentation.

As a result of the realignment noted above, our business is now comprised of four reportable segments, three of which represent our primary businesses of fresh and value-added products, prepared foods, and banana, and one that represents our other ancillary businesses.

•Fresh and value-added products - includes pineapples, fresh-cut fruit, fresh-cut vegetables (which includes fresh-cut salads), melons, vegetables, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, and avocados.

•Banana

•Prepared Foods - includes prepared fruit and vegetables, juices, other beverages, and meals and snacks

•Other products and services - includes our third-party freight and logistic services business, our Jordanian poultry and meats business and our specialty ingredients business.

The CODM Group uses segment gross profit, calculated as net sales less cost of products sold, as the primary measure in assessing segment performance and determining allocation of resources, with these determinations generally made as part of our annual budgeting process. Reviews of segment performance by the CODM Group occur regularly throughout the year, including monthly review of budget-to-actual results, which can result in allocation changes if deemed appropriate. The following table provides information by reportable segment, including net sales, cost of products sold and gross profit (U.S. dollars in millions):

 

	Quarter ended
	March 27, 2026						March 28, 2025
Segments:	Net Sales		Cost of products sold		Gross Profit		Net Sales		Cost of products sold		Gross Profit
Fresh and value-added products	$	549.0	$	489.2	$	59.8	$	612.3	$	553.3	$	59.0
Banana	357.1		340.6		16.5		363.8		347.0		16.8
Prepared foods	82.5		73.6		8.9		70.9		60.6		10.3
Other products and services	55.5		51.7		3.8		51.4		45.3		6.1
Total	$	1,044.1	$	955.1	$	89.0	$	1,098.4	$	1,006.2	$	92.2

The following table indicates our net sales by geographic region (U.S. dollars in millions):

	Quarter ended
Net sales by geographic region:	March 27, 2026		March 28, 2025
North America	$	593.5	$	646.8
Europe	234.9		221.7
Middle East	101.9		106.4
Asia	79.9		89.4
Other	33.9		34.1
Total	$	1,044.1	$	1,098.4

The following table indicates our net sales by product (U.S. dollars in millions) and, in each case, the percentage of the total represented thereby:

	Quarter ended
	March 27, 2026				March 28, 2025
Fresh and value-added products:
Fresh-cut fruit	$	130.4	13	%	$	130.1	12	%
Fresh-cut vegetables	33.8		3	%	68.2		6	%
Pineapples	167.8		16	%	161.9		15	%
Avocados	72.6		7	%	106.7		10	%
Non-tropical fruit	56.5		5	%	51.6		5	%
Melons	58.8		6	%	54.8		5	%
Vegetables	5.8		1	%	15.7		1	%
Other fruit and vegetables	23.3		2	%	23.3		2	%
Total fresh and value-added products	549.0		53	%	612.3		56	%
Banana	357.1		34	%	363.8		33	%
Prepared foods	82.5		8	%	70.9		6	%
Other products and services	55.5		5	%	51.4		5	%
Total	$	1,044.1	100	%	$	1,098.4	100	%

The following tables indicate our (i) property, plant, and equipment, net by location and (ii) total assets by location (U.S. dollars in millions):

Property, plant and equipment, net:	March 27, 2026		December 26, 2025
North America	$	220.1	$	122.9
Europe	28.8		29.2
Middle East	46.4		47.2
Africa	39.0		38.2
Asia	44.4		46.2
Central America	629.4		626.0
South America	45.1		44.5
Maritime equipment (including containers)	158.1		160.2
Corporate	5.5		5.1
Total property, plant and equipment, net	$	1,216.8	$	1,119.5

Total assets:	March 27, 2026		December 26, 2025
North America	$	943.6	$	624.7
Europe	380.7		350.3
Middle East	213.0		214.1
Africa	167.9		161.2
Asia	166.3		163.8
Central America	1,087.9		1,082.7
South America	117.6		105.2
Maritime equipment (including containers)	175.7		176.0
Corporate	149.7		181.0
Total assets	$	3,402.4	$	3,059.0

Management reviews assets on the basis of geographic region and not by reportable segment, which more closely aligns our capital investment with demand for our products. Costa Rica is our most significant sourcing location and represented approximately 38% of our property, plant and equipment as of March 27, 2026. Excluding the U.S., no other country other than Costa Rica accounted for greater than 10% of our property, plant and equipment as of March 27, 2026 and December 26, 2025.

Total assets by geographic area represent those assets used in the operations of each geographic area.

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Derivative Financial Instruments

3 Months Ended

Mar. 27, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments

Our derivative financial instruments reduce our exposure to fluctuations in foreign exchange rates and variable interest rates. We designate our derivative financial instruments as cash flow hedges.

Counterparties expose us to credit loss in the event of non-performance of hedges. We monitor our exposure to counterparty non-performance risk both at inception of the hedge and at least quarterly thereafter.

Fluctuations in the value of the derivative instruments are generally offset by changes in the cash flows of the underlying exposures being hedged. A cash flow hedge requires the change in the fair value of a derivative instrument to be recognized in other comprehensive income, a component of shareholders’ equity, and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item.

Certain of our derivative instruments contain provisions that require the current credit relationship between us and our counterparty to be maintained throughout the term of the derivative instruments. If that credit relationship changes, certain provisions could be triggered, and the counterparty could request immediate collateralization of derivative instruments in a net liability position above a certain threshold. The aggregate fair value of all derivative instruments with a credit-risk-related contingent feature that were in a liability position on March 27, 2026 was $0.3 million. As of March 27, 2026, no triggering event had occurred and thus we were not required to post collateral.

Derivative instruments are disclosed on a gross basis. There are various rights of setoff associated with our derivative instruments that are subject to an enforceable master netting arrangement or similar agreements. Although various rights of setoff and master netting arrangements or similar agreements may exist with the individual counterparties, individually, these financial rights are not material.

Cash flows from derivative instruments that are designated as cash flow hedges are classified in the same category as the cash flows from the underlying hedged items. In the event that hedge accounting is discontinued, cash flows related to changes in fair value subsequent to the date of discontinuance are classified within investing activities. 

Foreign Currency Hedges

Our results of operations and financial condition are exposed to fluctuations in currency exchange rates against the U.S. dollar, and we may mitigate that exposure by entering into foreign currency forward or collar contracts. Certain of our subsidiaries periodically enter into foreign currency forward contracts in order to hedge portions of forecasted sales or cost of sales denominated in foreign currencies, which generally mature within one year. At March 27, 2026, our foreign currency forward contracts hedge a portion of our 2026 foreign currency exposure.

The foreign currency forward contracts qualifying as cash flow hedges were designated as single-purpose cash flow hedges of forecasted cash flows. 

We had the following outstanding foreign currency contracts as of March 27, 2026 (in millions):

Foreign currency contracts qualifying as cash flow hedges:	Notional amount
Euro	EUR	292.5
Chilean peso	CLP	15,056.2
Kenyan shilling	KES	2,992.0

Interest Rate Contracts

Our results of operations and financial condition are exposed to fluctuations in variable interest rates, and we previously mitigated that exposure by entering into interest rate swaps. During 2018, we entered into interest rate swaps in order to hedge the risk of the fluctuation on future interest payments related to our variable rate LIBOR-based borrowings through 2028. We amended our Second A&R Credit Agreement and our interest rate swaps to transition from LIBOR to SOFR as a reference rate effective January 3, 2023.

In July 2024, we agreed to terminate our outstanding interest rate swap in exchange for $7.3 million in cash proceeds, net of fees of approximately $0.2 million. Based on our assessment that the originally hedged cash flows associated with our variable rate borrowings remain probable, the proceeds received as a result of the termination of our outstanding interest rate swap agreement will remain in accumulated other comprehensive loss and be reclassified to earnings through interest expense over the remaining life of the hedged debt. At March 27, 2026, $2.4 million in accumulated other comprehensive loss related to the terminated interest rate swap, of which $1.1 million is expected to be reclassified to earnings through interest expense over the next twelve months.

The following table reflects the fair values of derivative instruments, which are designated as level 2 in the fair value hierarchy, as of March 27, 2026 and December 26, 2025 (U.S. dollars in millions):

	Foreign exchange contracts (1)
Balance Sheet location:	March 27, 2026		December 26, 2025
Asset derivatives:
Prepaid expenses and other current assets	$	8.2	$	0.4
Liability derivatives:
Accounts payable and accrued expenses	$	0.3	$	1.4

(1) See Note 16, “Fair Value Measurements,” for fair value disclosures.

As of March 27, 2026, we expect that $9.0 million of the net fair value of our cash flow hedges recognized as a net gain in accumulated other comprehensive loss, inclusive of amounts associated with our interest rate swap terminated during the quarter ended June 28, 2024, will be transferred to earnings during the next 12 months, and the remaining net gain of $1.3 million over the following 2 years, along with the earnings effect of the related forecasted transactions.

The following table reflects the effect of derivative instruments on the Consolidated Statements of Comprehensive Income for the quarters ended March 27, 2026 and March 28, 2025 (U.S. dollars in millions):

	Net amount of gain (loss) recognized in other comprehensive income on derivatives
	Quarter ended
Derivative instruments	March 27, 2026		March 28, 2025
Foreign exchange contracts	$	8.7	$	(1.5)
Interest rate swaps, net of tax	(0.4)		(0.9)
Total	$	8.3	$	(2.4)

Refer to Note 17, “Accumulated Other Comprehensive Loss” for the effect of derivative instruments on the Consolidated Statements of Operations related to amounts reclassified from accumulated other comprehensive loss for the quarters ended March 27, 2026 and March 28, 2025.

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Fair Value Measurements

3 Months Ended

Mar. 27, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Fair Value of Derivative Instruments

Our derivative assets or liabilities include foreign exchange that are measured at fair value using observable market inputs such as forward rates, interest rates, and our own credit risk as well as an evaluation of our counterparties' credit risks. We use an income approach to value our outstanding foreign currency and interest rate hedges, which consists of a discounted cash flow model that takes into account the present value of future cash flows under the terms of the contract using current market information as of the measurement date such as foreign currency spot rates, forward rates and interest rates. Additionally, we include an element of default risk based on observable inputs into the fair value calculation. Based on these inputs, the derivative assets or liabilities are classified within Level 2 of the valuation hierarchy.

The following table provides a summary of the fair values of our derivative financial instruments measured on a recurring basis (U.S. dollars in millions): 

	Foreign currency forward contracts, net asset (liability)
	March 27, 2026		December 26, 2025
Quoted prices in active markets for identical assets (Level 1)	$	—	$	—
Significant observable inputs (Level 2)	7.9		(1.0)
Significant unobservable inputs (Level 3)	—		—

In estimating our fair value disclosures for financial instruments, we use the following methods and assumptions:

Cash and cash equivalents: The carrying amount reported in the Consolidated Balance Sheets for these items approximates fair value due to their liquid nature and are classified as Level 1.

Trade accounts receivable and other accounts receivable, net: The carrying value reported in the Consolidated Balance Sheets for these items is net of allowances, which includes a degree of counterparty non-performance risk and are classified as Level 2.

Accounts payable and other current liabilities: The carrying value reported in the Consolidated Balance Sheets for these items approximates their fair value, which is the likely amount for which the liability with short settlement periods would be transferred to a market participant with a similar credit standing as ours and are classified as Level 2.

Long-term debt: The carrying value of our long-term debt reported in the Consolidated Balance Sheets approximates their fair value since they bear interest at variable rates which contain an element of default risk. The fair value of our long-term debt is estimated using Level 2 inputs based on quoted prices for those or similar instruments. Refer to Note 10, “Debt and Finance Lease Obligations.”

Divestiture of Mann Packing

During the fourth quarter of 2025, we completed the divestiture of the Mann Packing business. The transaction did not meet the criteria for classification as a discontinued operation under ASC 205‑20, as it did not represent a strategic shift that has or will have a major effect on the Company’s operations or financial results. As a result of the closing of the transaction, we recorded $31.3 million of receivables related to proceeds under the Mann Divestiture Agreement, including $17.6 million included in Other accounts receivable, net and $13.7 million, net of a present value discount of $4.3 million, included in Other noncurrent assets in our Consolidated Balance Sheet as of December 26, 2025. Loss before income taxes for this individually significant component was $8.6 million for the quarter ended March 28, 2025. In connection with our divestiture of the Mann Packing business during the fourth quarter of 2025, we entered into a five-year lease as lessor for our Gonzales, California processing facility commencing in December 2025. The lease provides the lessee the option to renew the lease for an additional five-year term as well as a purchase option which can be exercised annually as described in the lease agreement.

Fair Value of Non-Financial Assets

The fair value of the banana reporting unit's goodwill and the prepared food reporting unit's goodwill and trade names and trademarks are sensitive to differences between estimated and actual cash flows and changes in the related discount rate used to evaluate the fair value of these assets. We disclosed the sensitivity related to the banana reporting unit's goodwill and the prepared food reporting unit's goodwill and trade names and trademarks in our notes to the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 26, 2025. Our current estimates of future cash flows depend on our ability to demonstrate successful implementation of our strategies to improve sales and profitability from these activities over the upcoming quarters. If we are unable to demonstrate successful implementation of these strategies, it could lead to impairment of some or all of these assets. To the extent that future developments result in cash flows that are less than currently estimated levels, including as a result of an inability to successfully implement our strategies to improve sales and profitability of the related activities, it could lead to impairment of these assets.

Assets held for sale, which had a carrying amount of $14.9 million as of March 27, 2026, primarily consisted of $7.3 million related to idle farmland in Italy, $3.1 million related to farmland in Chile, $2.5 million related to facilities in North America, and $2.0 million related to facilities and farmland in Central America. These assets are recognized at the lower of cost or fair value less cost to sell.

During the quarter ended March 27, 2026, we received proceeds of $2.2 million from the sale of assets previously held for sale. As a result, we recorded a gain on disposal of property, plant and equipment, net of $2.1 million for the quarter ended March 27, 2026.

We recorded asset impairment and other charges during the quarter ended March 27, 2026 that do not fall under the scope of fair value measurement. Refer to Note 5, "Asset Impairment and Other Charges, Net".

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Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 27, 2026

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

The following table includes the changes in accumulated other comprehensive loss by component (U.S. dollars in millions): 

	Changes in Accumulated Other Comprehensive Loss by Component (1)
	Cash Flow Hedges		Foreign Currency Translation Adjustment			Retirement Benefit Adjustment		Total
	Quarter ended March 27, 2026
Balance at December 26, 2025	$	1.9	$	(24.8)		$	(15.3)	$	(38.2)
Other comprehensive (loss) income before reclassifications	9.7		(4.7)		(2)	0.4		5.4
Amounts reclassified from accumulated other comprehensive (loss) income	(1.3)		—			0.2		(1.1)
Net current period other comprehensive income (loss)	8.4		(4.7)			0.6		4.3
Balance at March 27, 2026	$	10.3	$	(29.5)		$	(14.7)	$	(33.9)
	Quarter ended March 28, 2025
Balance at December 27, 2024	$	5.6	$	(45.2)		$	(10.8)	$	(50.4)
Other comprehensive income (loss) before reclassifications	(3.6)		6.9		(2)	(0.4)		2.9
Amounts reclassified from accumulated other comprehensive loss	1.2		—			0.1		1.3
Net current period other comprehensive income (loss)	(2.4)		6.9			(0.3)		4.2
Balance at March 28, 2025	$	3.2	$	(38.3)		$	(11.1)	$	(46.2)

(1) All amounts are net of tax and noncontrolling interest.

(2) Includes a loss of $2.3 million and a gain of $3.5 million for the quarters ended March 27, 2026 and March 28, 2025, respectively, on intra-entity foreign currency transactions that are of a long-term-investment nature.

The following table includes details about amounts reclassified from accumulated other comprehensive loss by component (U.S. dollars in millions): 

	Amount of (gain) loss reclassified from accumulated other comprehensive loss
	Quarter ended
Details about accumulated other comprehensive loss components	March 27, 2026		March 28, 2025		Affected line item in the statement where net income is presented
Cash flow hedges:
Designated as hedging instruments:
Foreign currency cash flow hedges	$	(0.7)	$	1.9	Net sales
Foreign currency cash flow hedges	(0.3)		0.2		Cost of products sold
Interest rate swaps	(0.3)		(0.9)		Interest expense
Total	$	(1.3)	$	1.2
Amortization of retirement benefits:
Actuarial losses	$	0.2	$	0.1	Other expense, net
Total	$	0.2	$	0.1

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Shareholders' Equity

3 Months Ended

Mar. 27, 2026

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Our shareholders have authorized 50,000,000 preferred shares at $0.01 par value, of which none were issued or outstanding at March 27, 2026, and 200,000,000 ordinary shares at $0.01 par value, of which 47,573,508 were issued and outstanding at March 27, 2026.

On February 21, 2025, our Board of Directors approved a stock repurchase program ("the Stock Repurchase Program") of up to $150 million of our ordinary shares. During the quarter ended March 27, 2026, we repurchased 100,000 shares for $4.0 million under the Stock Repurchase Program. The Stock Repurchase Program has no expiration date and will continue until otherwise modified or terminated by the Company's Board of Directors at any time in its sole discretion.

The below is a summary of the dividends paid per share during the quarters ended March 27, 2026 and March 28, 2025. These dividends were declared and paid within the same fiscal quarter.

Quarter ended
March 27, 2026			March 28, 2025
Dividend Payment Date	Cash Dividend per Ordinary Share		Dividend Payment Date	Cash Dividend per Ordinary Share
March 27, 2026	$	0.30	March 28, 2025	$	0.30

We paid $14.2 million in dividends during the quarter ended March 27, 2026 and $14.4 million in dividends during the quarter ended March 28, 2025.

On April 28, 2026, our Board of Directors declared a quarterly cash dividend of thirty cents $0.30 per share, payable on June 11, 2026, to shareholders of record on May 19, 2026.

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Insider Trading Arrangements	3 Months Ended
	Mar. 27, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

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Recently Issued Accounting Pronouncements (Policies)

3 Months Ended

Mar. 27, 2026

Accounting Standards Update and Change in Accounting Principle [Abstract]

Recently Issued Accounting Pronouncements

New Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). This ASU amends Accounting Standards Codification (ASC) 220 to require additional disclosure of certain expense information on an annual and interim basis, including but not limited to the amounts of purchases of inventory, employee compensation and depreciation and intangible asset amortization included within each income statement expense caption, as applicable. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027 with early adoption permitted. ASU 2024-03 should be applied prospectively; however, retrospective application is permitted. We are currently evaluating the impact of the adoption of this ASU on our consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"). This ASU amends ASC 350 to now require entities to commence capitalizing eligible software costs when (i) management has authorized and committed to funding the software project, and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. The new standard also supersedes the guidance related to costs incurred to develop a website. ASU 2025-06 is effective for years beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements.

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Acquisition (Tables)

3 Months Ended

Mar. 27, 2026

Business Combination [Abstract]

Schedule of pro forma information

The following unaudited pro forma combined financial information presents our results including Del Monte Foods as if the business combination had occurred at the beginning of fiscal year 2025. The unaudited pro forma information is not necessarily indicative of the results that the Company would have achieved had the Acquisition actually occurred at the beginning of fiscal year 2025, nor does such information purport to be indicative of future financial operating results.

	Quarter ended
	March 27, 2026		March 28, 2025
Net sales	$	1,213.0	$	1,316.5
Net income (loss)	(19.4)		(17.5)
Net income (loss) attributable to Fresh Del Monte Produce Inc.	$	(20.1)	$	(18.3)

Business Combination

The following table provides a reconciliation of cash, cash equivalents, and restricted cash in our Consolidated Balance Sheets, that reconcile to the amounts shown on the Consolidated Statements of Cash Flows:

	March 27, 2026		December 26, 2025
Cash and cash equivalents	$	66.3	$	35.7
Restricted cash included in:
Prepaid expenses and other current assets	3.5		28.5
Total cash, cash equivalents and restricted cash	$	69.8	$	64.2

Business Combination, Recognized Asset Acquired and Liability Assumed

The following table summarizes the fair values of the net assets acquired and liabilities assumed on the Closing Date. Due to the timing of the Acquisition during the quarter, we are still finalizing and reviewing the estimated fair values of the assets acquired and liabilities assumed. Accordingly, measurement period adjustments, such as those to the provisional measurements of inventory, trade names and property, plant and equipment, may be recorded as the valuation procedures are finalized which may result in a change to our fair value allocation.

	At March 19, 2026
Assets acquired
Cash and cash equivalents	$	1.5
Trade accounts receivable	4.1
Other accounts receivable	15.1
Inventories(1)	168.2
Assets held for sale	2.5
Prepaid expenses and other current assets	8.6
Property, plant and equipment (2)	120.1
Operating lease right-of-use assets	4.7
Deferred income taxes	5.8
Other noncurrent assets	0.3
Trade names	60.1
Liabilities assumed
Accounts payable and accrued expenses	13.2
Current maturities of debt and finance leases	5.4
Current maturities of operating leases	3.3
Income taxes and other taxes payable	5.8
Long-term debt and finance leases	10.7
Retirement benefits	9.3
Operating leases, less current maturities	1.4
Net assets acquired	$	341.9

(1) Includes an inventory valuation step-up of $6.2 million. The preliminary fair value was determined based on level 3 inputs which included the estimated selling price of the inventory, less the remaining estimated costs to sell such inventory at estimated normal profit margin.

(2) Includes $16.1 million of right‑of‑use assets related to the bubble tea business operated under the Joyba® trademark. Based on our decision to discontinue production of Joyba® after the Closing Date, we recorded an impairment of these right-of-use assets during the quarter ended March 27, 2026. See Note 5, "Asset Impairment and Other Charges, Net".

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Asset Impairment and Other Charges (Credits), Net (Tables)

3 Months Ended

Mar. 27, 2026

Asset Impairment and Other Charges (Credits), Net [Abstract]

Summary of asset impairment and exit activity and other charges (credits)

The following represents a summary of asset impairment and other charges, net recorded during the quarters ended March 27, 2026 and March 28, 2025 (U.S. dollars in millions):

	Quarter ended
	March 27, 2026						March 28, 2025
	Long-lived and other asset impairment		Exit activity and other  charges		Total		Long-lived and other asset impairment		Exit activity and other  charges		Total
Prepared segment:
Impairment of right-of-use asset (1)	$	16.1	$	—	$	16.1	$	—	$	—	$	—
Other:
Business transaction costs related to acquisition of Del Monte Foods (2)	—		3.5		3.5		—		—		—
Severance costs for transition employees related to acquisition of Del Monte Foods	—		0.4		0.4		—		—		—
Total asset impairment and other charges, net	$	16.1	$	3.9	$	20.0	$	—	$	—	$	—

(1) During the quarter ended March 27, 2026, we recorded impairment charges of $16.1 million related to right-of-use assets acquired from Del Monte Foods for product lines we do not intend to operate. See Note 3, "Acquisitions".

(2) During the quarter ended March 27, 2026, we recorded $3.5 million in business transaction costs, primarily related to transaction advisory fees, legal, consulting, and accounting expenses, related to our acquisition of Del Monte Foods. See Note 3, “Acquisitions”.

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Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 27, 2026

Receivables [Abstract]

Rollforward of Trade Receivable Allowance for Credit Losses

The table below presents a rollforward of our trade receivable allowance for credit losses for the quarters ended March 27, 2026 and March 28, 2025 (U.S. dollars in millions):

	Quarter ended
Trade receivables	March 27, 2026		March 28, 2025
Allowance for credit losses:
Balance, beginning of period	$	16.8	$	11.5
Provision for uncollectible amounts	—		0.6
Deductions to allowance related to write-offs	(0.1)		(0.4)
Recoveries of amounts previously allowed for	(0.2)		(0.2)
Foreign exchange effects	(0.1)		0.1
Balance, end of period	$	16.4	$	11.6

Advances to Growers Along with the Related Allowance for Doubtful Accounts

The following table details the advances to growers and suppliers based on their credit risk profile (U.S. dollars in millions):

	March 27, 2026				December 26, 2025
	Current		Past-Due		Current		Past-Due
Gross advances to growers and suppliers	$	15.0	$	20.8	$	10.7	$	22.3

Rollforward of Allowance for Advances to Growers and Suppliers

The allowance for advances to growers and suppliers for the quarters ended March 27, 2026 and March 28, 2025 were as follows (U.S. dollars in millions):

	Quarter ended
	March 27, 2026		March 28, 2025
Allowance for advances to growers and suppliers:
Balance, beginning of period	$	27.1	$	12.1
Provision for uncollectible amounts	0.1		1.4
Balance, end of period	$	27.2	$	13.5

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Share-Based Compensation (Tables)

3 Months Ended

Mar. 27, 2026

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock-based compensation expense included in selling, general and administrative expenses

Share-based compensation expense related to RSUs and PSUs is included in selling, general and administrative expenses in the accompanying Consolidated Statements of Operations and was comprised in the relevant periods as follows (U.S. dollars in millions): 

	Quarter ended
	March 27, 2026		March 28, 2025
RSUs/PSUs	$	2.5	$	2.3

RSU and PSUs awarded

The following table lists the RSUs and PSUs awarded under the 2022 Plan during the quarters ended March 27, 2026 and March 28, 2025:

Date of Award	Type of award	Units awarded	Price per share
For the quarter ended March 27, 2026
March 2, 2026	RSU	214,923	$	43.02
For the quarter ended March 28, 2025
March 3, 2025	PSU	126,495	$	30.27
March 3, 2025	RSU	287,426	$	30.27

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Inventories, net (Tables)

3 Months Ended

Mar. 27, 2026

Inventory Disclosure [Abstract]

Schedule of inventory

Inventories consisted of the following (U.S. dollars in millions):

	March 27, 2026		December 26, 2025
Finished goods	$	311.2	$	185.0
Raw materials and packaging supplies	161.4		156.3
Growing crops	255.8		240.6
Total inventories, net	$	728.4	$	581.9

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Debt and Finance Lease Obligations (Tables)

3 Months Ended

Mar. 27, 2026

Long-Term Debt and Lease Obligation [Abstract]

Schedule of long-term debt and finance lease obligation

The following is a summary of long-term debt and finance lease obligations (U.S. dollars in millions):

 

	March 27, 2026		December 26, 2025
Senior unsecured revolving credit facility (see Credit Facility below)	$	438.0	$	173.0
Finance lease obligations	20.5		4.7
Total debt and finance lease obligations	458.5		177.7
Less:  Current maturities	(7.0)		(1.5)
Long-term debt and finance lease obligations	$	451.5	$	176.2

Material terms of the credit facility and other working capital facilities

The following is a summary of the material terms of the 2024 Amended Credit Facility and other working capital facilities at March 27, 2026 (U.S. dollars in millions):

	Term	Maturity date	Interest rate	Borrowing limit		Available borrowings, net of letters of credit and bank guarantees
Bank of America credit facility	5 years	February 21, 2029	4.78%	$	750.0	$	312.0
Rabobank letter of credit facility	364 days	June 12, 2026	Varies	25.0		14.3
Other working capital facilities	Varies	Varies	Varies	20.9		10.0
				$	795.9	$	336.3

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Earnings Per Share (Tables)

3 Months Ended

Mar. 27, 2026

Earnings Per Share [Abstract]

Schedule of earnings per share

Basic and diluted net income per ordinary share is calculated as follows (U.S. dollars in millions, except share and per share data):

	Quarter ended
	March 27, 2026		March 28, 2025
Numerator:
Net income attributable to Fresh Del Monte Produce Inc.	$	10.0	$	31.1
Denominator:
Weighted average number of ordinary shares - Basic	47,449,871		47,956,338
Effect of dilutive securities - share-based awards	419,584		312,282
Weighted average number of ordinary shares - Diluted	47,869,455		48,268,620
Antidilutive awards (1)	60,464		—
Net income per ordinary share attributable to Fresh Del Monte Produce Inc.:
Basic	$	0.21	$	0.65
Diluted	$	0.21	$	0.64

(1)Certain unvested RSUs and PSUs are not included in the calculation of net income per ordinary share because the effect would have been antidilutive.

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Retirement and Other Employee Benefits (Tables)

3 Months Ended

Mar. 27, 2026

Retirement Benefits [Abstract]

Net periodic benefit costs of pension plans and post-retirement plans

The following table sets forth the net periodic benefit costs of our defined benefit pension plans and post-retirement benefit plans (U.S. dollars in millions):

	Quarter ended
	March 27, 2026		March 28, 2025
Service cost	$	1.9	$	1.6
Interest cost	1.9		1.9
Expected return on assets	(0.7)		(0.8)
Amortization of net actuarial loss	0.1		0.1
Net periodic benefit costs	$	3.2	$	2.8

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Business Segment Data (Tables)

3 Months Ended

Mar. 27, 2026

Segment Reporting [Abstract]

Disaggregation of Revenue

	Quarter ended
	March 27, 2026						March 28, 2025
Segments:	Net Sales		Cost of products sold		Gross Profit		Net Sales		Cost of products sold		Gross Profit
Fresh and value-added products	$	549.0	$	489.2	$	59.8	$	612.3	$	553.3	$	59.0
Banana	357.1		340.6		16.5		363.8		347.0		16.8
Prepared foods	82.5		73.6		8.9		70.9		60.6		10.3
Other products and services	55.5		51.7		3.8		51.4		45.3		6.1
Total	$	1,044.1	$	955.1	$	89.0	$	1,098.4	$	1,006.2	$	92.2

Net sales by geographic region

	Quarter ended
Net sales by geographic region:	March 27, 2026		March 28, 2025
North America	$	593.5	$	646.8
Europe	234.9		221.7
Middle East	101.9		106.4
Asia	79.9		89.4
Other	33.9		34.1
Total	$	1,044.1	$	1,098.4

Net sales by product

The following table indicates our net sales by product (U.S. dollars in millions) and, in each case, the percentage of the total represented thereby:

	Quarter ended
	March 27, 2026				March 28, 2025
Fresh and value-added products:
Fresh-cut fruit	$	130.4	13	%	$	130.1	12	%
Fresh-cut vegetables	33.8		3	%	68.2		6	%
Pineapples	167.8		16	%	161.9		15	%
Avocados	72.6		7	%	106.7		10	%
Non-tropical fruit	56.5		5	%	51.6		5	%
Melons	58.8		6	%	54.8		5	%
Vegetables	5.8		1	%	15.7		1	%
Other fruit and vegetables	23.3		2	%	23.3		2	%
Total fresh and value-added products	549.0		53	%	612.3		56	%
Banana	357.1		34	%	363.8		33	%
Prepared foods	82.5		8	%	70.9		6	%
Other products and services	55.5		5	%	51.4		5	%
Total	$	1,044.1	100	%	$	1,098.4	100	%

Property, Plant and Equipment and Assets by Location

The following tables indicate our (i) property, plant, and equipment, net by location and (ii) total assets by location (U.S. dollars in millions):

Property, plant and equipment, net:	March 27, 2026		December 26, 2025
North America	$	220.1	$	122.9
Europe	28.8		29.2
Middle East	46.4		47.2
Africa	39.0		38.2
Asia	44.4		46.2
Central America	629.4		626.0
South America	45.1		44.5
Maritime equipment (including containers)	158.1		160.2
Corporate	5.5		5.1
Total property, plant and equipment, net	$	1,216.8	$	1,119.5

Total assets:	March 27, 2026		December 26, 2025
North America	$	943.6	$	624.7
Europe	380.7		350.3
Middle East	213.0		214.1
Africa	167.9		161.2
Asia	166.3		163.8
Central America	1,087.9		1,082.7
South America	117.6		105.2
Maritime equipment (including containers)	175.7		176.0
Corporate	149.7		181.0
Total assets	$	3,402.4	$	3,059.0

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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 27, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding forward contracts

We had the following outstanding foreign currency contracts as of March 27, 2026 (in millions):

Foreign currency contracts qualifying as cash flow hedges:	Notional amount
Euro	EUR	292.5
Chilean peso	CLP	15,056.2
Kenyan shilling	KES	2,992.0

Fair values of derivative instruments

The following table reflects the fair values of derivative instruments, which are designated as level 2 in the fair value hierarchy, as of March 27, 2026 and December 26, 2025 (U.S. dollars in millions):

	Foreign exchange contracts (1)
Balance Sheet location:	March 27, 2026		December 26, 2025
Asset derivatives:
Prepaid expenses and other current assets	$	8.2	$	0.4
Liability derivatives:
Accounts payable and accrued expenses	$	0.3	$	1.4

Effect of derivative instruments on Consolidated Statements of Comprehensive Income (Loss)

The following table reflects the effect of derivative instruments on the Consolidated Statements of Comprehensive Income for the quarters ended March 27, 2026 and March 28, 2025 (U.S. dollars in millions):

	Net amount of gain (loss) recognized in other comprehensive income on derivatives
	Quarter ended
Derivative instruments	March 27, 2026		March 28, 2025
Foreign exchange contracts	$	8.7	$	(1.5)
Interest rate swaps, net of tax	(0.4)		(0.9)
Total	$	8.3	$	(2.4)

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 27, 2026

Fair Value Disclosures [Abstract]

Summary of fair values of assets and liabilities measured on a recurring basis

The following table provides a summary of the fair values of our derivative financial instruments measured on a recurring basis (U.S. dollars in millions): 

	Foreign currency forward contracts, net asset (liability)
	March 27, 2026		December 26, 2025
Quoted prices in active markets for identical assets (Level 1)	$	—	$	—
Significant observable inputs (Level 2)	7.9		(1.0)
Significant unobservable inputs (Level 3)	—		—

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Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 27, 2026

Equity [Abstract]

Schedule of accumulated other comprehensive income (loss)

The following table includes the changes in accumulated other comprehensive loss by component (U.S. dollars in millions): 

	Changes in Accumulated Other Comprehensive Loss by Component (1)
	Cash Flow Hedges		Foreign Currency Translation Adjustment			Retirement Benefit Adjustment		Total
	Quarter ended March 27, 2026
Balance at December 26, 2025	$	1.9	$	(24.8)		$	(15.3)	$	(38.2)
Other comprehensive (loss) income before reclassifications	9.7		(4.7)		(2)	0.4		5.4
Amounts reclassified from accumulated other comprehensive (loss) income	(1.3)		—			0.2		(1.1)
Net current period other comprehensive income (loss)	8.4		(4.7)			0.6		4.3
Balance at March 27, 2026	$	10.3	$	(29.5)		$	(14.7)	$	(33.9)
	Quarter ended March 28, 2025
Balance at December 27, 2024	$	5.6	$	(45.2)		$	(10.8)	$	(50.4)
Other comprehensive income (loss) before reclassifications	(3.6)		6.9		(2)	(0.4)		2.9
Amounts reclassified from accumulated other comprehensive loss	1.2		—			0.1		1.3
Net current period other comprehensive income (loss)	(2.4)		6.9			(0.3)		4.2
Balance at March 28, 2025	$	3.2	$	(38.3)		$	(11.1)	$	(46.2)

(1) All amounts are net of tax and noncontrolling interest.

(2) Includes a loss of $2.3 million and a gain of $3.5 million for the quarters ended March 27, 2026 and March 28, 2025, respectively, on intra-entity foreign currency transactions that are of a long-term-investment nature.

Amounts reclassified from accumulated other comprehensive (loss) income

The following table includes details about amounts reclassified from accumulated other comprehensive loss by component (U.S. dollars in millions): 

	Amount of (gain) loss reclassified from accumulated other comprehensive loss
	Quarter ended
Details about accumulated other comprehensive loss components	March 27, 2026		March 28, 2025		Affected line item in the statement where net income is presented
Cash flow hedges:
Designated as hedging instruments:
Foreign currency cash flow hedges	$	(0.7)	$	1.9	Net sales
Foreign currency cash flow hedges	(0.3)		0.2		Cost of products sold
Interest rate swaps	(0.3)		(0.9)		Interest expense
Total	$	(1.3)	$	1.2
Amortization of retirement benefits:
Actuarial losses	$	0.2	$	0.1	Other expense, net
Total	$	0.2	$	0.1

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Shareholders' Equity (Tables)

3 Months Ended

Mar. 27, 2026

Stockholders' Equity Note [Abstract]

Schedule of dividend activity

The below is a summary of the dividends paid per share during the quarters ended March 27, 2026 and March 28, 2025. These dividends were declared and paid within the same fiscal quarter.

Quarter ended
March 27, 2026			March 28, 2025
Dividend Payment Date	Cash Dividend per Ordinary Share		Dividend Payment Date	Cash Dividend per Ordinary Share
March 27, 2026	$	0.30	March 28, 2025	$	0.30

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General (Details)		3 Months Ended
	Mar. 19, 2026 USD ($)	Mar. 27, 2026 segment1
Product Information [Line Items]
Number of reportable segments | segment1		4
Del Monte Foods
Product Information [Line Items]
Consideration transferred | $	$ 310,200,000

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Acquisition - Narrative (Details) - USD ($)			3 Months Ended
	Mar. 27, 2026	Mar. 19, 2026	Mar. 27, 2026	Dec. 26, 2025
Business Combination [Line Items]
Acquisition related costs			$ 3,500,000
Del Monte Foods
Business Combination [Line Items]
Consideration transferred		$ 310,200,000
Cash payments made		285,000,000.0
Payments from escrow		25,000,000.0
Preacquisition intangible asset included in purchase consideration		31,700,000
Total consideration including intangible assets		$ 341,900,000
Revenue since acquisition	$ 24,300,000
Earnings since acquisition date	(16,000,000.0)
Acquisition related costs	5,000,000		3,500,000
Amortization of inventory fair value adjustment	2,300,000
Escrow deposit	$ 3,500,000		$ 3,500,000	$ 28,500,000

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Acquisition - Recognized Assets Acquired and Liabilities Assumed (Details) - Del Monte Foods	Mar. 19, 2026 USD ($)
Business Combination [Line Items]
Cash and cash equivalents	$ 1,500,000
Trade accounts receivable	4,100,000
Other accounts receivable	15,100,000
Inventories	168,200,000
Assets held for sale	2,500,000
Prepaid expenses and other current assets	8,600,000
Property, plant and equipment	120,100,000
Operating lease right-of-use assets	4,700,000
Deferred income taxes	5,800,000
Other noncurrent assets	300,000
Trade names	60,100,000
Accounts payable and accrued expenses	13,200,000
Current maturities of debt and finance leases	5,400,000
Current maturities of operating leases	3,300,000
Income taxes and other taxes payable	5,800,000
Long-term debt and finance leases	10,700,000
Retirement benefits	9,300,000
Operating leases, less current maturities	1,400,000
Net assets acquired	341,900,000
Right of use assets related to bubble tea business	16,100,000
Business Combination, Pro Forma Information, Nonrecurring Adjustment, Inventory, Fair Value Adjustment
Business Combination [Line Items]
Inventories	$ 6,200,000

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Acquisition - Pro Forma (Details) - Del Monte Foods - USD ($) $ in Millions	3 Months Ended
	Mar. 27, 2026	Mar. 28, 2025
Business Combination, Pro Forma Information [Line Items]
Net sales	$ 1,213.0	$ 1,316.5
Net income (loss)	(19.4)	(17.5)
Net income (loss) attributable to Fresh Del Monte Produce Inc.	$ (20.1)	$ (18.3)