ROMANIA: Dole acquires Romanian distributor
Dole will begin direct distribution of its fruit products in Romania with the acquisition of long-standing local partner Distrifrut.
Distrifrut has distributed Dole's branded products in Romania since the US fruit company entered the market in the early 1990s. The deal will see Dole take direct control of the company from its founder Fadi Nahas.
In what it described as a "milestone" acquisition, Dole will take a 25% share of the Romanian fruit market.
In a statement, the company said the move would allow it to "to provide top quality products and services to its European retail partners".
"Dole already supplies and advises them in most European countries through its expert ripening and distribution network. This operation enables the company to extend its scope of operation in the region," Dole said.
Dole Romania will operate from six different locations in the country: Bucharest, Constanta, Timisoara, Cluj, Iasi, and Bacau.
Dole Europe Import, a division of Dole Europe, has been granted AEO status, validating that the company works according to EU criteria....
Dole Food Co., the US fruit and vegetable group, has posted a quarterly loss of US$54m in its first earnings statement since last month's IPO....
Shares in US fruit and vegetable group Dole Foods dipped in morning trade today (23 October) after the company launched an initial public offering of 35.2m shares....
Dole Food Company has priced its initial public offering of 35.7m shares at US$12.50 per share....
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