Dole sells off Progressive Produce for $120M
Dole sells off Progressive Produce for $120M
Dole plc has reached an agreement to sell its 65 percent equity stake in Progressive Produce LLC to PTF Holdings LLC, the parent company of Pacific Trellis Fruit LLC and a portfolio company of Arable Capital Partners. Dole will receive gross cash proceeds of $120.25 million from this sale.
Progressive Produce, located in Los Angeles, is a grower, packer and distributor of conventional and organic produce to the retail, wholesale and foodservice sectors in the U.S. and Canada. The company is one of California’s premier produce companies with annual sales in excess of $400 million.
Post the