Arable Capital purchases Dole’s Fresh Vegetables Division

Through a press release, international fruit giant Dole announced it sold its Fresh Vegetables Division to Holdco LLC, parent company of organicgirl LLC, and a portfolio company of Arable Capital Partners. According to the document, the total purchase price is $140 million.

Arable Capital is a food and agriculture investment firm, with a portfolio that includes major industry names such as Progressive Produce, Pacific Trellis Fruit, and now Dole’s Fresh Vegetables Division.

The deal entails a payment of $90 million in cash, a $50 million seller's note, and an additional $10 million potential earn-out. 

The Fresh Vegetables Division purchase includes all operations for both whole produce and salad kits, and a workforce of more than 3,000 people.

Arable will now own the division's agricultural facilities and three processing plants across the United States. Dole will retain ownership of its facilities in Huron, California, and Yuma, Arizona.

Photo courtesy of Dole

Carl McCann, Executive Chairman of Dole, said they're happy about the trade: “A combination with organicgirl will create a strong platform to realize operational efficiencies and expand the overall offering and service to customers and consumers." 

Derek Yurosek, Managing Director of Arable Capital Partners, said the Dole is "an outstanding addition to our portfolio that is positioned for continued growth and success.”