Belgium-based fresh produce multinational Greenyard’s attempt to acquire Dole Food Company has proved to be unsuccessful.
Despite the setback, in a release Greenyard executive chairman Hein Deprez emphasized confidence the group would continue to be at the forefront of its industry and create shareholder value.
“While the acquisition of Dole by Greenyard would have marked a significant milestone for both companies, we are confident that Greenyard has the right strategy and priorities in place to continue generating profitable growth and strengthening our global leadership position in fruit and vegetables,” Deprez said.
“We pursued all efforts to realise a transaction with financial and strategic merit that would have created value for all stakeholders involved, nevertheless an agreement could not be reached.”
Rothschild & Co served as Greenyard’s financial advisor, with Allen & Overy LLP as legal advisor and Freshfields LLP as competition advisor.
Dole’s current owners have been looking to offload at least part of the company since April last year when proceedings began for a stock market listing.