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Diving Briefs:
- Dole sold the fresh vegetable division to the private equity company, Arable Capital Partners, and owned the packaged salad brand OrganicGirl for $ 140 million.
- Dole’s fresh vegetable segments supervise all processing and sales, from lettuce and collie flow to broccoli and packaged salads. As part of the contract, Dole maintains facilities in Huran, California and Yuma, Arizona.
- Dole announced plans in January 2023 Discard the segment into Fresh ExpressAbout $ 293 million, a subsidiary of Chiquita Brands International. But there was a deal One year later, it was terminated in the opposite of DOJ.The deal argued that the price would reduce competition and increase prices.
Dive Insights:
Dole is best known as bananas, pineapples and other fresh fruits At least one -third of the company’s $ 8.5 billion in 2024. But headquartered in Dublin, the company also has a meaningful fresh vegetable department and is actively selling for more than two years.
When the company first announced its deal with Fresh Express, Dole said it could improve its financial position and focus on core business, especially fresh fruits. Dole reversed similar emotions in a revised transaction with Arable Capital.
“The completion of this sales will show the group’s important strategic trials and focus more on efforts and investments in core business activities.
Arable Capital is described as an investment company that focuses on the food and agricultural sectors. In addition to OrganicGirl, PE Company is investing in progressive agricultural products, packers and distributors and vegetable cultivators of existing and organic agricultural products.
Added Dole’s fresh segment overlaps with some of the existing fresh vegetable businesses of Arable, including lettuce, asparagus and onions. Purchase allows Arable to benefit from marketing, production and innovation related to new businesses and further improve relationships with growers.
Dole’s fresh vegetable business includes three processing plants and agricultural operations across the United States and more than 3,000 people.
