Movers & Shakers: Dole Food Co. Goes

Dole Food Company, Inc. Has turned private as of 1 Nov. David H. Murdock, Dole’s Chairman and Chief Executive Officer, has completed his acquisition of Dole Food Company, Inc. The $13.50 per share purchase price represents a total valuation of Dole at over $1.6 billion, including net debt, fees and expenses. The going-private merger agreement was approved on October 31, 2013 at a special meeting of the Dole stockholders.

“I am pleased to have concluded the acquisition of Dole and wish to thank our many loyal stockholders. Our stockholders certainly benefitted from a very robust special committee process and the extraordinarily high valuation for the Company. The $13.50 price per share is considerably higher than Dole’s historical stock trading price average,” said Mr. Murdock. “I plan to have Dole support my strong personal commitment to promoting a lifestyle and diet which includes significant emphasis on fruits and vegetables and proper nutrition as a basis for improved health and longevity. We will continue to support research efforts to study the impact of nutrition on health and longevity at universities and other non-profit institutions, and to write books and publications in order to broaden our collective knowledge base on the value and benefits from eating fruits and vegetables.”

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