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British Produce Firm Acquires Large Stake In Dole Food

February 1, 2018: 12:00 AM EST
European fresh produce company Total Produce announced it has acquired a 45 percent stake in California-based Dole Food Company for $300 million. The equity was acquired from Board Chairman David H. Murdock. Dole generated $4.5 billion in revenue during the year ended in October 2017. The company said the transaction “creates the world's leading fruit and vegetables group with potential to realize synergies.” The Dole management team will continue to operate the business; Total Produce will share governance rights including equal board representation. Murdock will continue as chairman; Carl McCann, chairman of Total Produce, will be vice chairman.  [  Image credit:  ©  SEC.gov  ]
"Investment in Dole Food Company", Total Produce PLC, February 01, 2018, © Total Produce PLC
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