Reported Earlier, Dole Agrees To Sell Its 65% Equity Stake In Progressive Produce To Arable Capital For Gross Cash Proceeds Of $120.25M
Portfolio Pulse from Benzinga Newsdesk
Dole plc has announced the sale of its 65% equity stake in Progressive Produce to PTF Holdings, a portfolio company of Arable Capital, for $120.25 million. Progressive Produce is a leading grower, packer, and distributor of produce in the U.S. and Canada, with annual sales over $400 million.
February 28, 2024 | 6:43 am
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Dole plc sells its 65% stake in Progressive Produce to PTF Holdings for $120.25 million, potentially increasing its cash reserves.
The sale of a significant equity stake in Progressive Produce to PTF Holdings for $120.25 million is likely to positively impact Dole plc's financial position by increasing its cash reserves. This influx of cash could be used for further investments, debt reduction, or other corporate purposes, potentially making the company more attractive to investors. The importance rating is high due to the substantial amount of cash involved and the strategic implications of the sale.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100