Europe’s leading fresh produce company, Total Produce plc, has entered into an agreement with Dole Food Co. to combine and form a new U.S. listed company, Dole plc. The new company will be well positioned to deliver long-term growth and utilize its increased size and network to drive market penetration and cross-selling.
“I am delighted with this transaction, which combines two highly complementary premium businesses to create the global leader in fresh produce,” said Carl McCann, chairman of Total Produce, in a statement. “I am confident the combined business will open new avenues of value creation for shareholders and pursue innovation in healthy nutrition for our customers worldwide.
McCann added, “The combined company will become the largest global player with over 170 years of history in fresh produce in both companies, a highly diversified portfolio, resilient earnings, and a strong balance sheet that positions us well for accelerated growth. We look forward to beginning this next chapter and providing increased opportunity for our shareholders, dedicated employees, customers, suppliers and partners.”
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Image: Dole Foods