Dole To Reap $2B For Packaged Foods, Asia Produce Units

Law360, New York (September 17, 2012, 9:44 PM EDT) -- Dole Food Co. will sell its global packaged foods and its Asia fresh produce businesses to Tokyo-based trading company Itochu Corp. for more than $1.68 billion in cash, the companies announced Monday, ending the speculation that had mounted in the days since they went public with their deal talks.

The sale includes the Dole Worldwide Packaged Foods unit, which makes products including canned pineapple, fruit in plastic cups and frozen fruit, and the Dole Asia Fresh Produce unit, which distributes fresh fruit and vegetables mainly in...
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