Belgian company in talks to buy US fruit giant Dole
BELGIAN FRUIT and vegetable company Greenyard said Tuesday it was in advanced negotiations to buy US giant Dole, one of the world鈥檚 leading producers of bananas and pineapples.
According to Belgian press reports, Dole鈥檚 elderly owner David Murdock values the company, originally founded in 1851, at over 鈧2 billion including debt. If the sale goes ahead it will be one of the largest buyouts ever by a Belgian company.
Greenyard said in a statement it was in 鈥渁dvanced negotiations鈥 to buy Dole, but cautioned that no deal was in place and there was no guarantee one would come about.
鈥淕reenyard has secured appropriate financing, and is confident in its ability to complete the transaction with a balanced financing approach should a definitive agreement be reached,鈥 the statement said.
Dole has estimated annual sales of $4.5 billion, while Greenyard, which employs 9,000 people in 25 countries, recorded a 鈧1.03-billion profit in 2016 on sales of 鈧4.25 billion.
Owned 45% by the family of its chief executive Hein Deprez, Greenyard is one of the leading suppliers of fresh and frozen fruit, vegetables, flowers and plants to European retailers. 鈥 AFP
