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Belgium company Greenyard explores acquisition of Dole Food

Today it isn't a final agreement

Belgian company Greenyard NV said on Tuesday it was in advanced negotiations to acquire Dole Food Company [DFCI.UL], the world’s largest fruit and vegetable producer, confirming a Reuters report.

For Dole’s 94-year-old chairman David Murdock a deal with Greenyard would offer a quick way to cash out on his ownership of the California-based company, which has also been considering a potential initial public offering.

“Greenyard 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”, had declared the company.

The California-based company, one of the largest producers of bananas and pineapples, could be valued at more than $2.5 billion, including debt, people familiar with the matter said on Monday. Greenyard has a market capitalization of 869 million euros ($1.03 billion) according to Thomson Reuters data.

If the two companies fail to reach an agreement, Dole will continue to evaluate other offers, explains the press agency.

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© EFA News - European Food Agency Srl