Dole Food Co. has made progress in cutting debt through the sales of various assets, the company has indicated.
The US group said yesterday (1 April) that it reduced its total debts by 15%, or U$370m. As of 28 March, the end of the company’s first quarter, Dole said that it had cut to around US$2.11bn, down from $2.48bn at the end of its first quarter last year.
This was achieved through the sale of certain assets – which raised a total of $300m in the first quarter.
“Dole is pleased to be moving forward with debt reduction and asset sales, continuing to execute on our previously announced plan to sell assets and reduce our debt,” said David DeLorenzo, president and CEO.