Dole Food has settled out of court following two lawsuits against the US-based fruit and vegetable group and three other banana companies.

Michael Carter, Dole executive vice president and general counsel, said the company still believed the lawsuits were "without merit".

He added: "Once there is final court approval, these settlement agreements will bring to an end this litigation against Dole and will not have any material effect on the Company's financial condition or results."

Dole is continuing to work with the EU in its investigation into alleged violations of EU laws banana and pineapple importers and distributors operating within the European Economic Area.