Greenyard in ‘advanced talks’ to acquire Dole Food Company

Belgian company Greenyard said today it is in “advanced negotiations” to acquire Dole Food Company, one of the world’s largest fruit and vegetable producers.

Greenyard has secured appropriate financing and said it is “confident in its ability to complete the transaction with a balanced financing approach should a definitive agreement be reached”. However, it stressed that there no guarantee that a transaction will definitely go ahead.

The acquisition would create a company with an annual revenue of around €8 billion, Reuters has reported.

Greenyard has some of Europe’s largest retailers as part of its customer base, selling fruit, vegetables , flowers and plants. The Dole deal would allow it to expand in the US.

With more than 9,000 employees in 25 countries, Greenyard has annual revenue of €4.25 billion.

In 2013, Dole CEO David Murdock bought the remaining shares of Dole for $1.6 billion, following four years as a publicly listed company.