Dole Food Co finalizes purchase of JPFD
Oct 19, 2006 9:00 AM, from staff and wire reports
Dole Food Co Inc has completed its purchase from Jamaica Producers Group Ltd of the 65% of JP Fruit Distributors Ltd (JPFD) that Dole does not already own. Value of the transaction is $41,900,000 in cash. JPFD imports and sells fresh produce in the United Kingdom.
Benoit Galland, president of Dole Europe, said, “This acquisition permits Dole to strengthen its penetration of the vital market for fresh produce in the United Kingdom and the Republic of Ireland . . . We will work with our customers throughout Europe to develop the geographical synergies arising from this widening of the existing Dole network in Europe."
With 2005 revenues of $5.9 billion, Dole Food Co is the world’s largest producer and marketer of fresh fruit, fresh vegetables, and fresh-cut flowers.
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