Dole, a global leader in fresh produce, has announced it has entered into an agreement to sell its fresh vegetables division to Fresh Express, a subsidiary of fruit supplier Chiquita, for approximately $293 million in cash.
The fresh vegetables divisions comprises operations related to the processing and sale of whole produce, as well as salads and meal kits. It has agricultural operations and four processing facilities across the US, employing over 3,000 people.
“We are pleased to announce the sale of our Fresh Vegetables Division”, commented Dole executive chairman Carl McCann. “Combining with Fresh Express will improve the offering and service to customers and consumers through increased investments in innovation, efficiencies, and food safety”.
“We believe the sale of this division will strengthen our financial position and increase the Group’s focus on and investments in our core activities”, he continued.
Chiquita Holdings chairman Jose Luis Cutrale Jr added: “With this transaction, we want to combine our best practises across food safety, freshness of produce, mechanisation, automation, and innovation to offer rapidly expanding choices of safer and healthier produce products to the consumer”.