A locally based company which is the world’s largest supply of fresh fruit, and vegetables has announced to will go private, through a purchase by its CEO.
Westlake Village based Dole Foods has accepted a $1.21 billion dollar buyout from CEO David Murdoch. Shareholders will receive $13.50 a share, which was up substantially from Murdoch’s first offer of $12.00 a share in June.
Dole’s Board of Directors unanimously approved the offer, which still needs to get final shareholder approval.
The company was founded in 1851, and has nearly 50,000 employees in 90 countries around the world.