Dive Brief:
- Dole Food has sold its stake in the French holding company behind Compagnie Fruitière Group. Terms of the deal were not released.
- Dole has owned a piece of Compagnie Fruitière Group for some 21 years. Neither company has been clear about the exact numbers, but Dole reportedly held a 40% stake in the fruit shipper.
- Compagnie Fruitière grows and ships bananas, pineapples and tomatoes, and is the largest fruit company in the African, Caribbean, and Pacific Group of States (ACP).
Dive Insight:
This news comes as Dole undergoes a global restructuring. Just days ago the company announced a new management structure and said it would close a major vegetable processing facility.
