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Dole sells two of its Japanese activities to Itochu for $1.69 billion
Japan
Thursday 20 September 2012
MD
Dole sold Itochu its packaged food operations and rights for fresh products from Asia and Oceania.
The world's largest supplier of fresh fruits and vegetables sold part of its activities to Itochu.
Dole Food Company sold Itochu its activities for $ 1.69 billion giving Itochu exclusive rights to the Dole brand worldwide for packaged foods and fresh produce business from Asia, Australia and New Zealand. These activities accounted for $ 2.5 billion in sales
last year.
The transaction will allow Dole Food Co to reduce a portion of its debt and fund its restructuring.
Itochu is the third Japanese distributor with the retail chain Family Mart Co. The company is present in other areas and sells raw materials, metal, wheat, soybeans, vegetable oils, sugar and drinks.
The transaction will allow Dole Food Co to reduce a portion of its debt and fund its restructuring.
Itochu is the third Japanese distributor with the retail chain Family Mart Co. The company is present in other areas and sells raw materials, metal, wheat, soybeans, vegetable oils, sugar and drinks.
source : reuters, los angeles times
