Dole plc has completed its initial public offering and merger with a European firm to form the world’s largest fresh produce company.
Dole plc started trading July 30 on the New York Stock Exchange at $16 a share. Formerly known as Dole Food Co., it was formed by a merger with Total Produce, Europe’s largest fresh produce company, which already held a 45% share in parent company Dole Holdings.
The two companies had combined revenues for 2020 of $9.7 billion. Dole plc will be at least twice as large as its nearest competitor, according to a company statement.
Dole plc will be headquartered in Dublin, Ireland, the current home of Total Produce. Its U.S. headquarters will be in Charlotte, N.C. Carl McCann, the company’s chairman, and Rory Byrne, its CEO, held those positions at Total Produce. Johan Lindén, former CEO of Dole Food, is now the chief operating officer at the new company.