Dole offloads stake in holding company behind Compagnie Fruitière

Dole offloads stake in holding company behind Compagnie Fruitière

Dole Food Co. has sold its minority stake in the holding company of France-based fruit grower Compagnie Fruitière Group.

The US company said it had offloaded its interest in Compagnie Financiere de Participations back to its majority shareholder, the Fabre family.

"Dole and Compagnie Fruitière have jointly decided that they will better pursue their growth objectives separately in the future," Dole said. 

"This transaction puts an end to 21 years of a long and fruitful cooperation but the termination of the partnership at shareholder level does not exclude that both companies may continue to co-operate commercially as supplier or customer to each other if, when and where it would be to their mutual benefit."

Compagnie Fruitière is the largest grower of bananas, pineapple and tomatoes in the African, Caribbean and Pacific zone.

Officials at Dole's European office in Hamburg could not be reached for immediate comment.