Total Produce acquires 45% stake in Dole Food Company for $300mn

By Jonathan Dyble
Europe’s leading fresh produce company Total Produce has announced that it has agreed to acquire a 45% stake in rival company Dole Food Company in a d...

Europe’s leading fresh produce company Total Produce has announced that it has agreed to acquire a 45% stake in rival company Dole Food Company in a deal worth $300mn.

The merger will create the world’s largest fresh producer company, bringing together Total’s €3.5bn revenue and Dole’s portfolio as the largest supplier of Banana’s across North America and third largest supplier in Europe.

See also:

“I believe that this investment by Total Produce in Dole is the single most positive step in our company's history,” said Carl McCann, Chairman of Total Produce. “It places Total Produce at the forefront of our industry, and we anticipate it will create significant additional value for shareholders in the years ahead.”

The Dole management team will continue with business as usual, whilst both Total Produce and Dole will have an equal representation on the company’s Board, led by Dole’s existing Chairman David Murdock.

“Both Dole and Total Produce have a standard of perfection that leads the industry in innovation, together we will further our joint mission of providing the highest quality produce to the world,” Murdock said.

Share

Featured Articles

Top 10 customer experience (CX) trends in 2023

Food Digital breaks down the Top 10 customer experience (CX) trends taking centre stage for 2023, including predictive analytics, AR, metaverse and more

Absolut joins the sustainable drink trend with paper bottle

Sustainability is driving brand changes at Absolut as the drinks brand focuses on delivering new designs and a sustainable paper-based recyclable packaging

Careers Passport: flagship programme to help jobseekers

A fast-track job scheme designed to remove barriers to enter the food and drink industry has seen over 1,000 training opportunities created.

Coca-Cola, Diginex & Reckitt tech to support supply chains

Drink

Luxury food manufacturer Venchi on sustainable packaging

Food

How has the pandemic affected sales at General Mills?

Food