Sweden’s Greenfood is selling its fresh produce business to the Nordic division of Dole, which also operates in fruit and vegetables.
Financial terms of the deal were not disclosed. The transaction is subject to clearance from competition authorities and is expected to complete at an unspecified point in 2026.
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Greenfood said in a statement yesterday (17 December) that the divestment covers its fruit and vegetable wholesale operations, while its remaining businesses will be “unaffected”.
Its other business units are salad-bar concept Picadeli and food solutions, or foodservice.
David von Laskowski, CEO of Greenfood, said: “This agreement represents an important strategic step. It enables us to focus even more on our rapidly-growing business areas, Picadeli and Food Solutions, where we see significant long-term potential across Europe and the US.”
The company added it expects the transaction to strengthen its “strong liquidity position, leverage ratio, as well as growth and profitability profile”.
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By GlobalDataIn July, Swedish investment firm Fidelio acquired Nordic Capital’s majority stake in Greenfood. Fidelio had already held a minority share for almost 15 years.
Greenfood operates in Europe and the US.
Dole declined to comment on the transaction when contacted by Just Food.
Greenfood as a group delivered third-quarter sales of Skr1.45bn ($156m), up 2.9% on the corresponding 12 months, figures issued in October showed.
The Fresh Produce business reported net sales of Skr650.2m, down 2.7% year-on-year.
Operating profit jumped 162.5% to Skr8.4m, while adjusted EBITDA rose 18.5% to Skr23.7m.
For the first nine months, fresh produce sales were relatively flat at Skr2.25bn versus Skr2.26bn.
Operating profit more than doubled to Skr36.1m from Skr14.6m, while adjusted EBITDA improved to Skr78.5m from Skr68m.
