Dole Food Company’s bid to purchase the remaining 65% in JP Fruit that it does not already own has been accepted, a move that will see JP Fruit become a wholly-owned subsidiary of Dole. The agreed purchase price is US$41.9m in cash.
Dole said that certain aspects of the deal are still being negotiated, adding that it is considering expressions of interest by potential partners with respect to the ownership of JP Fruit.
With 2005 revenues of $5.9bn, Dole is the world’s largest producer and marketer of high-quality fresh fruit, fresh vegetables and fresh-cut flowers. Dole has also diversified into the packaged and frozen food sector.