Dole Food Company has announced it has sold its Saba Fresh Cuts AB and Saba Fresh Cuts OY subsidiaries to Bama International.
Saba Fresh Cuts AB, with a production facility in Helsingborg, Sweden, and Saba Fresh Cuts OY, with a production site in Espoo, Finland, are producers of ready-to-eat salads.
The companies prepare and sell various fresh-cut salads and vegetables to the retail and foodservice industry in Sweden, Denmark, Finland, Germany and the Baltic states.
The sale of Saba Fresh Cuts AB was a necessary condition of the European Commission’s approval of the investment by Total Produce into Dole in July 2018.
“I am very pleased with the outcome of this sale in meeting the EU’s requirement,” said Johan Linden, president and CEO of Dole Food Company. “I am confident that Saba Fresh Cuts will be in good hands under Bama’s ownership.”
Bama Group CEO Rune Flaen said: “We are pleased to announce this agreement with Dole for Saba Fresh Cuts. Convenience products and ready-to-eat salads and vegetables is a fast-growing category in all markets, and Saba Fresh Cuts is a solid and very professional player, with a strong organisation and high-quality products. We look forward to working together.”
Dole said the transaction is expected to close in the first quarter of 2019.
Earlier this year, Ireland-based fresh produce distributor Total Produce acquired a 45% stake in Dole Foods Company for €242 million. Total Produce purchased the shares from Dole chairman David Murdock, who previously owned 100% of the company.
Source: FoodBev
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