Dole plans to buy the rest of JPFD—or sell it
Sep 27, 2006 8:51 AM, from staff and wire reports
Dole Food Co has initiated a buy-sell process under which the company either will buy the 65% of JP Fruit Distributors Ltd it does not already own, or else will sell the 35% of JPFD that it does own.
JPFD imports and sells fresh produce in the United Kingdom. The owner of the 65% interest in JPFD, Jamaica Producers Group Ltd, is required either to accept Dole’s offer to buy JPG’s 65% interest or, alternatively, to accept Dole’s offer to sell its 35% interest in JPFD. Dole expects that the offers will be considered by the JPG board Oct 2, 2006. Dole is considering expressions of interest from potential partners with respect to the ownership and operation of JPFD, if Dole ends up as the buyer.
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