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TOTAL PRODUCE takes a 45% stake in DOLE FOOD COMPANY
All countries
Thursday 01 February 2018
FJ | Total Produce Plc
The transaction brings together 2 industry leaders, creating a combined group that will operate on a larger scale, offer greater geographic diversification and a wider variety of products.
TOTAL PRODUCE, the leading European fresh produce company, announces that it has reached an agreement to acquire a 45% stake in DOLE FOOD COMPANY from David H. Murdock for a cash consideration of USD 300 million.
TOTAL PRODUCE and DOLE are 2 of the largest fruit and vegetable companies in the world with sales of 3,995 million EUR and 4,455 million USD respectively. The transaction creates the 1st world group of Fruits & Vegetables.
The two companies hold complementary market positions in various product segments and geographical areas, and this transaction represents a milestone in the history of TOTAL PRODUCE and the continuation of its successful expansion strategy.
DOLE's strong presence in North America will complement TOTAL PRODUCE's position in the European market. DOLE has leading positions in a number of its major product categories, including bananas, pineapples, fresh vegetables and grapes that will add to the TOTAL PRODUCE product line.
source: investors.totalproduce.com
