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Westlake Village Based Global Food Giant Goes Private In $1.6 Million Dollar Deal

Posted on Friday, November 1, 2013 12:35am

The Westlake Village based company which is the world’s largest producer of fresh fruit, and fresh vegetables is now privately owned again.

Shareholders yesterday approved an offer from Dole Foods CEO, and President David Murdoch to buy the nearly 61% of stock in the company which were publically owned for $13.50 a share.  That put the buyout price at about $1.6 billion dollars.

Dole had sold off two of its major units during the last year, ones responsible for about a third of its sales.

The company had an estimated $6.9 billion dollars in sales in 2010, and had a global workforce of 36,000 full time, and 23,000 seasonal, or part time workers.

Dole will become a subsidiary of DFC Holdings.

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