Dole Food Co. sells California headquarters for 50 million dollars

Dole Food Co. has sold its headquarters in California, to the Conrad N. Hilton Foundation for $50 million. Dole food has kept its headquarters for the past 20 years.

Dole Food, the world’s largest producer of fruit and vegetables, has been struggling with declining revenue in recent years. In July, Dole sold a 45 percent stake to Ireland-based Total Produce for $300 million.

Dole put its corporate campus on the market late last year, according to the Real Deal

The Conrad N. Hilton Foundation is a family foundation founded in 1944 by the hotel magnate who started Hilton Hotels. On its website lists its assets at about $2.8 billion. Since its inception, it has awarded more than $1.6 billion in grants, including $114.9 million worldwide in 2017.