Japan Itochu Corp. to buy Dole Food's packaged and Asian fresh food business for $1.7 billion

Written By empapat on Selasa, 18 September 2012 | 01.45

TOKYO - The Japanese trading company Itochu Corp. says it has agreed to buy Dole Food Co.'s worldwide packaged foods and Asia fresh produce businesses for $1.7 billion.

Itochu said in a brief statement Tuesday that it would provide further details of its planned purchase of Westlake Village, California-based Dole's subsidiaries later.

Dole earlier said it was in "advanced negotiations" to sell those parts of its business to Itochu or another party following a strategic review of its operations.

Dole's packaged foods business includes products ranging from canned and frozen fruit to bagged salads — product lines that fit with Itochu's ambitions to become the biggest food distributor in the increasingly affluent Asian market.

© The Canadian Press, 2012

18 Sep, 2012


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Source: http://www.globalnews.ca/Money/japan+itochu+corp+to+buy+dole+foods+packaged+and+asian+fresh+food+business+for+17+billion/6442717036/story.html
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