Allegro parent Total Produce in €60 million Investment in Dole USA
Allegro’s parent Total Produce has been given the green light from the European Commission over its €260 million investment in Dole.
Dole currently is the biggest US banana distributor, selling 140 million boxes per annum, with revenues around €3.9 billion.
The decision allows the Irish food distributor to take a 45% stake in the US group earlier than expected.
The deal was agreed in February but was subject to anti-trust reviews in both the US and the EU. Now that it has received EU clearing, the deal was closed on July 31st.
Total Produce has the option of buying Dole outright over five years.