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  • Total Produce completes $1.44bn refinancing - learn more

Total Produce completes $1.44bn refinancing - learn more

Introducing the Premier Global Leader in Fresh Produce


Total Produce is coming together with Dole Food Company to create the premier global leader in fresh produce. This combination provides a strong foundation that allows the company to invest in organic  and development opportunities to achieve accelerated, sustainable long-term growth while reaching more customers and leading in new product categories. The new company will unify under one common ownership as a new U.S.-listed public company, operating under the Dole brand. Click below for more information.

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    Details about the Total Produce/Dole Transaction

    • Total Produce and Dole to combine and form “Dole plc,” and launch an Initial Public Offering (“IPO”) to become publicly listed in the U.S.
       
    • The Transaction will simplify the existing structure between the two companies by unifying Dole and Total Produce under common ownership, with the objective of enabling full operational integration, realisation of synergies and value creation across the enlarged business.
       
    • Dole plc will be the global #1 in fresh produce with estimated combined 2020 revenue of approximately US$9.7 billion, adjusted EBITDA of approximately US$379 million and total assets of approximately US$4.5 billion.
       
    • Dole plc will be well positioned to deliver attractive long-term growth and utilise its increased size and network to drive market penetration and cross-selling. Dole plc will benefit from the strength of the Dole brand to further expand its product offering and pursue synergistic M&A in a fragmented and structurally growing industry.
       
    • Dole plc will have a balanced geographic presence with an extensive and diversified product portfolio, enhancing the overall financial resilience of the business.

    Growing Together

    Combining two culturally-aligned organisations to enhance scale,
    diversification, and value proposition

    Total Produce and Dole are joining as one company. This transaction builds on the successful existing relationship between the two companies, bringing together two premium businesses and enabling full operational integration, increased collaboration, and value creation. The two organizations have a complementary strategic fit in terms of geographic footprint, product mix, and business model. The combined company will have a balanced geographic presence and the most diversified product portfolio in the fresh produce industry, enhancing the overall resilience of the business.

     

     

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    Dole plc Key Metrics

    Global #1

    Global #1 in fresh produce, with ~US$9.7 billion in 2020 combined revenue, ~2x the nearest competitor

    $379M

    ~US$379 million 2020 combined Adj. EBITDA

    $4.5B

    ~US$4.5 billion in 2020 combined net assets