Dole sells 65% stake in Progressive Produce to PTF Holdings for $120.25M, expected to close in March.
Dole to sell 65% equity stake in Progressive Produce to PTF Holdings, a portfolio company of Arable Capital Partners, for $120.25 million. The deal, expected to close in March, will result in Dole receiving gross cash proceeds for debt reduction. Progressive Produce, a major grower, packer, and distributor of conventional and organic produce in the US and Canada, will maintain its management team under the new ownership.
February 28, 2024
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