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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 26, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
 
The following table reflects our indefinite-lived intangible assets, including goodwill, and our definite-lived intangible assets along with related accumulated amortization by major category (U.S. dollars in millions):

December 26, 2025December 27, 2024
Goodwill$390.0 $396.3 
Indefinite-lived intangible assets:
Trademarks31.6 31.7 
Definite-lived intangible assets:
Definite-lived intangible assets10.6 10.6 
Accumulated amortization(9.1)(9.1)
Definite-lived intangible assets, net1.5 1.5 
Goodwill and other intangible assets, net$423.1 $429.5 

Indefinite-lived and definite-lived intangible assets are included in intangible assets, net, in the Consolidated Balance Sheets. Our definite-lived intangible assets primarily consist of water rights in South America.
The following table reflects the changes in the carrying amount of goodwill by business segment (U.S. dollars in millions):

BananasFresh and Value-Added ProductsTotals
Balance at December 29, 2023$64.4 $337.5 $401.9 
Foreign exchange(0.2)— (0.2)
Goodwill allocated to disposal of fresh-cut vegetable assets— (4.0)(4.0)
Impairment charges— (1.4)(1.4)
Balance at December 27, 2024$64.2 $332.1 $396.3 
Foreign exchange0.4 0.5 0.9 
Goodwill allocated to Mann Packing disposal group— (7.2)(7.2)
Balance at December 26, 2025$64.6 $325.4 $390.0 
 

In the table above, goodwill is presented net of accumulated impairment losses of $111.1 million, relating strictly to the fresh and value-added products segment.

Allocation of Goodwill to Mann Packing Disposal Group

During the third quarter of 2025, we entered into a non-binding Letter of Intent pursuant to which we intended to sell the Mann Packing business, a wholly-owned subsidiary of the Company included in our fresh and value-added products segment, including substantially all operating assets. Subsequently, on October 15, 2025, we entered into an Asset Purchase Agreement (the "Mann Divestiture Agreement"), by and among Mann Packing and the Company (collectively, the "Sellers") and CBRT Processing, LLC and True Leaf Holdings, LLC (collectively, the "Buyer") pursuant to which the Buyer agreed to acquire the Mann Packing business and substantially all its operational assets. In accordance with ASC 805 - Business Combinations, the Mann Packing Assets constitute a business and, as a result, $7.2 million of goodwill from our fresh-cut products reporting unit was allocated to the carrying value of the disposal group as determined on a relative fair value basis during the third quarter of 2025. The reporting unit was evaluated for impairment subsequent to the allocation of goodwill and it was determined that the fair value of the reporting unit was in excess of its carrying amount. See Note 18, “Fair Value Measurements” for further discussion.

Allocation of Goodwill to Disposal of Fresh Leaf Farm Assets

On October 26, 2024, we entered into an agreement to dispose of certain assets in Fresh Leaf Farms, LLC ("Fresh Leaf Farms"), a wholly owned subsidiary of our Mann Packing business which operated in our fresh and value-added products segment. In accordance with ASC 805 - Business Combinations, the sale of the Fresh Leaf Farms' assets constitutes a business, and therefore, we allocated $4.0 million of goodwill from our fresh-cut reporting unit to the carrying value of the assets sold as determined on a relative fair value basis. The reporting unit was evaluated for impairment subsequent to the allocation of goodwill and it was determined that the fair value of the reporting unit was in excess of its carrying amount. See Note 18, “Fair Value Measurements” for further discussion.

Results of 2025 Impairment Tests

We review goodwill for impairment on an annual basis or earlier if indicators of impairment arise. We performed our fourth quarter 2025 annual goodwill impairment test using a quantitative assessment for all reporting units, and specifically an income approach valuation methodology. The results of our impairment test resulted in the fair value of each reporting unit exceeding its respective carrying amount as of the assessment date.

We also evaluated both Del Monte® trade names and trademarks related to our prepared foods reporting unit for impairment as of the first day of our fourth quarter of 2025 using the royalty savings method, an income approach valuation methodology. The royalty savings method estimated the fair value of the intangible assets by capitalizing the royalties saved. Both Del Monte® trade names and trademarks had fair values that exceeded their carrying amounts.
The fair value of the banana reporting unit's goodwill, prepared foods reporting unit's goodwill and the Del Monte® prepared foods reporting unit’s 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. If the banana and the prepared foods reporting unit do not perform to expected levels, the related goodwill and the Del Monte® trade names and trademarks associated with the prepared foods reporting unit may be at risk for impairment in the future.

The following table highlights the sensitivities of the indefinite-lived intangibles as of December 26, 2025 (U.S. dollars in millions):
Banana
Reporting Unit
Goodwill		Prepared Foods
Reporting Unit
Goodwill
Prepared Foods Reporting Unit 
Del Monte®
Trade Names and Trademarks
Carrying value of indefinite-lived intangible assets$64.6 $27.1 $31.7 
Approximate percentage by which the fair value exceeds the carrying value based on the annual impairment test20.1 %6.8 %16.5 %
Amount that a one percentage point increase in the discount rate and a 5% decrease in cash flows would cause the carrying value to exceed the fair value and trigger an impairment$41.9 $27.1 $— 

Results of 2024 Impairment Tests

Based on the results of our 2024 impairment test and due to underperformance in our vegetable business in North America and reduction in forecasted cash flows, we incurred an impairment charge of $1.4 million representing the entire goodwill assigned to the vegetable reporting unit.

Results of 2023 Impairment Tests

Based on the results of our 2023 impairment test and due to underperformance in our prepared foods business in North America and Europe, coupled with an increase in the discount rates used, we incurred an impairment charge of $21.6 million for which the fair value was determined to be $27.2 million.

In addition, during the fourth quarter of 2023, we identified factors which indicated the carrying amounts of certain fresh and value-added assets associated with Mann Packing may not be recoverable. These factors included (1) a sustained decline in actual and projected sales and gross margins, (2) conclusions reached from management's strategic review of Mann Packing finalized in the fourth quarter of 2023 and (3) impairment charges of goodwill in our prepared foods reporting unit which is included within our fresh and value-added products segment. Based on the results of our recoverability test performed, we determined the carrying amounts of certain fresh and value-added assets exceeded their fair values and during 2023 we recorded non-cash impairment charges of $109.6 million, including impairment charges to customer relationships intangible assets of $88.6 million and trade name intangible assets of $8.3 million.
As of December 26, 2025, the estimated amortization expense related to definite-lived intangible assets for the five succeeding years is as follows (U.S. dollars in millions):

 
YearEstimated Amortization Expense
2026$0.1 
20270.1 
20280.1 
20290.1 
20300.1