Dole Food Company, Inc. Announces Completion of Sale of JP Fresh and Dole France to Compagnie Fruitiere

As previously announced Dole had signed a definitive purchase and sale agreement to sell JP Fresh and Dole France to Compagnie Fruitière. The transaction received clearance from the French antitrust authorities and has now been completed.

04/11/08 Dole Food Company, Inc. announces completion of the sale of Dole ripening and distribution businesses in England (JP Fresh) and in France (Dole France) to the Compagnie Fruitière Group, in which Dole holds a non-controlling 40% stake. The Fabre family is the controlling stakeholder with 60%.

As previously announced on September 23, 2008, Dole had signed a definitive purchase and sale agreement to sell JP Fresh and Dole France to Compagnie Fruitière. The transaction received clearance from the French antitrust authorities and has now been completed.

‘This transaction will allow Dole and Compagnie Fruitière to better serve our European markets, by providing our customers with an extended range of product origins and a more integrated sales policy,” said Jean-Christophe Juilliard, Dole Europe’s President.

Dole, with 2007 net revenues of $6.93 billion, is the world’s largest producer and marketer of high-quality fresh fruit and fresh vegetables, and is the leading producer of organic bananas. Dole markets a growing line of packaged and frozen foods and is a produce industry leader in nutrition education and research.