market; fresh; produce; storage; exporting; quality

Global fresh produce giants may merge

Greenyard, the Belgian multinational fresh produce producer, may buy Dole Food Company, an American counterpart.

One of the largest fresh produce distributors in Europe, Greenyard, is in negotiations to buy Dole Food Company. Greenyard, with a turnover of more than €3.2 billion, has a presence in western Europe, the United States of America (USA) and 4 countries in South America.

Dole came into being in 1851 in Hawaii and has since grown to 1 of the largest fresh produce companies in the world. The company recorded sales to the value of US$1 billion and a net income of US$13 million in the first 3 months of 2017, and does business with more than 200 fruit and vegetable producers in South Africa.

According to Reuters, the deal could be worth more than US$2.5 billion, and although Greenyard has secured financing, “a definitive agreement has not been reached, and there can be no assurance that these negotiations will culminate in a transaction between the 2 companies”, the company said in a statement.

Should the transaction succeed, Greenyard will be the largest fresh produce company in the world.

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