The world’s largest fruit and vegetable supplier Greenyard is set to take over Dole Food in a deal worth a potential US$2.5billion. In a press statement, Greenyard announced that the Belgium-based group was in advanced negotiations to acquire what was formerly the world’s biggest fruit and vegetable producer.
The proposed deal would include a certain amount of debt. News of this potential deal follows Greenyard Food’s 2015 merger with Univeg and horticultural substrate specialist Peatinvest. Now, the world’s biggest produce company, Greenyard had sales of €4.25bn last year. The group’s majority shareholder with just over 50% is the Deprez family, through Deprez Holding and Food Invest International after it recently bought out the shares owned by Belgian biotech firm Agri Investment Fund.
Just four years after group chairman David Murdock took the group private, California-based Dole has been considering pursuing a public offering for a while to pay off debts. Greenyard’s takeover proposal would provide a simpler and more profitable way for Murdock to exit the business.