Fresh produce giant Dole Food Company has announced it is to sell its Saba Fresh Cuts AB and Saba Fresh Cuts OY businesses, operating in Sweden and Finland respectively, to BAMA International.
Both companies are producers of washed and ready-to-eat salads, operating in the retail and foodservice industries in Sweden, Denmark, Finland, Germany and the Baltic States.
Norway-based BAMA International is the country's largest distributor of fruit and vegetables, and holds a significant share in Nature's Pride.
The announcement of the deal follows Total Produce's investment in Dole earlier this year, with the sale of Saba Fresh Cuts AB a necessary condition of the European Commission’s approval of the deal.
“I am very pleased with the outcome of this sale in meeting the EU’s requirement,” said Johan Linden, president and chief executive officer of Dole Food Company, “and I am confident that Saba Fresh Cuts will be in good hands under BAMA’s ownership.”
The transaction is expected to close in the first quarter of next year, subject to European Commission approval. Dole was advised by investment bank and financial services company Houlihan Lokey in the transaction.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.