Dole Plc called off the sale of its Fresh Vegetables Div. to Fresh Express Inc. on March 28 because of “the U.S. Department of Justice’s decision that it will pursue litigation to prevent the transaction.”
“While Dole strongly disagrees with the Department of Justice’s decision and continues to believe that the transaction was pro-competitive and would have unlocked ongoing benefits to customers and consumers, we remain confident that we will have an alternative path forward in the near term that is in the best interests of the Fresh Vegetables Division’s employees, customers and partners, and the Dole Plc shareholders,” the seller wrote.
The deal was announced in February of 2023. Fresh Express, a wholly owned subsidiary of Chiquita Holdings Ltd., was to pay $293 million in cash for the business, which sources whole produce from farms across the U.S. and has four processing plants.
In addition to whole iceberg, romaine and leaf lettuces, cauliflower, broccoli, celery, asparagus, artichokes, green onions, sprouts, radishes and cabbage, it also made salads and meal kits. The division reported revenue of $1.28 billion at the end of 2021, and it employs more than 3,000 people.
