Japan's Itochu agrees to buy Dole food assets
The Japanese conglomerate has signed a deal to buy the US produce giant's global packaged food and Asian fresh assets for US$1.7bn.
Dole Food Co. has said the sale of its global packaged food and Asian fresh businesses to Itochu Corp. will cut its debt and allow it more "flexibility" to look at growth opportunities.
US produce group Dole Food Co. has sold its global packaged food and Asian fresh businesses to Japanese conglomerate Itochu Corp. for US$1.7bn.
A chunk of Dole Food Co.'s business could end up in the hands of one of Japan's largest trading houses it was announced this week - and China appears to be central to the potential deal.
US food group Dole Food Co. has admitted it is in talks to sell two units, including its packaged food arm, to Japanese conglomerate Itochu Corp.
Dole Food Co. has admitted it is considering selling its global packaged foods business and could complete the move by the end of the year.
US produce giant Dole Food Co. is looking at potentially spinning off one or more of its businesses.
US fresh produce giant Dole Food Co. moved back into profit in 2011 thanks, in part, to cost control, higher sales and improved earnings from its fresh fruit and vegetable divisions.
Lower profits from bananas and fresh pineapples hit Dole Food Co.'s earnings in the company's last financial year, the US firm has revealed.
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