Dole Food Co. is to sell its ripening and distribution units in Spain and Portugal to Compagnie Fruitière.
The sale is expected to close in November, the US company said yesterday (20 September).
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Johan Linden, president of Dole’s European operations, said the transaction followed the sale of the group’s ripening and distribution business in France and the UK to Compagnie Fruitière in 2008.
“It will allow Dole and Compagnie Fruitière to better serve our Spanish and Portuguese markets, by providing our customers with an extended range of product origins and a more integrated sales policy,” Linden said.
Family-owned business Compagnie Fruitière is a grower of fruit in Africa, the Caribbean and the Pacific region. The company markets its fruit in Europe and North Africa. Within the EU, it holds a 10% market share for pineapples and 7% for bananas. Dole which holds a 40% non-controlling stake in Compagnie Fruitière.
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