Dole Food Co. has admitted it is considering selling its global packaged foods business and could complete the move by the end of the year.

The US food group yesterday (19 July) shone more light on the “strategic review” of its operations, which it announced in May, and put forward the sale of the unit as one option on the table.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Dole said its worldwide packaged foods unit could be spun off to current shareholders. A third scenario could see Dole combine the unit with its broader business in Asia through a listing in the region or through a venture with a third party.

“The company is currently evaluating prospective transactions and options for a number of the company’s businesses and has been in discussions with numerous third parties who have expressed interest in select businesses,” Dole said.

“All of these alternatives are intended to enhance shareholder value. The company believes it is on track to achieve one or more of these possible transactions, or any other transaction in connection with the strategic review, by the end of the year. However, there can be no assurances that the company will pursue or complete any of the strategic alternatives that are currently being reviewed or any other transaction.”

Dole’s update came as it reported its half-year financial results. Lower earnings from its banana operations hit Dole’s first-half profits.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company said comparable income from continuing operations was US$83.8m for the six months to 16 June, down from $135.1m a year earlier. EBIT before discontinued operations was $152.1m, against $173.5m the previous year.

Revenues were $3.35bn. A year earlier, Dole booked revenue of $3.6bn.