Dole has announced the sale of its Fresh Vegetables Division to Arable Capital Partners’ portfolio company, organicgirl, for $140 million. The transaction, which includes $90 million in cash, a $50 million seller note, and up to $10 million in earn-outs, positions Dole’s fresh vegetable products alongside organicgirl’s range of packaged greens.
This division encompasses the production and sale of a wide array of fresh produce, such as lettuce, cauliflower, broccoli, celery, and asparagus, alongside salad kits. Dole will retain its facilities in Huron, California, and Yuma, Arizona. The division operates with three processing plants in the US, employing over 3,000 people.
The sale is expected to drive operational efficiencies and expand service offerings for customers. Arable Capital, a key player in the food value chain, sees this acquisition as a strategic step to strengthen its portfolio, which includes other notable investments such as organicgirl, Progressive Produce, and Pacific Trellis Fruit.