Dole sells canned food business to Itochu for $1.7B
Produce giant Dole Food Co. sold its worldwide canned food business to Japanese conglomerate Itochu Corp. on Tuesday, fetching $1.7 billion and marking the Westlake Village-based firm’s exit from Asia. Proceeds from the all-cash sale, the biggest in Dole history, will be used to pay down debt, Dole said. Tokyo-based Itochu now has exclusive rights Read More →
Leaders talk redevelopment at Reagan library
California cities struggling to finance projects after the state abolished redevelopment agencies may get some relief from Sacramento, business leaders were told at a breakfast meeting Friday at the Ronald Reagan Library in Simi Valley. But the extent of any relief is unclear, according to panelists at a Corporate Leaders Breakfast sponsored by Cal Lutheran Read More →
Dole nears deal with Itochu
Westlake Village-based Dole Food Co. is closing in on a deal to sell its processed food business and Asian fresh fruit and vegetable businesses to a Japanese trading house. In an unusual move, Dole confirmed market rumors on Sept. 12 that it is in “advanced negotiations” with Itochu Corp. to sell the business units. Reuters Read More →
Limoneira earnings, lemon sales on the rise
Limoneira Co. reported third-quarter profits of $5.1 million, a jump from the $1.5 million the company earned during the second quarter as lemon sales surged. The Santa Paula-based lemon grower’s third-quarter earnings are equal to 45 cents per share, up from 41 cents per share for the third quarter of last year. Earnings per share Read More →
Schniepp: Ventura County lags state’s recovery
Ventura County’s economic recovery is lagging behind that of the rest of the Golden State. That was the view from Mark Schniepp, director of the Santa Barbara-based California Economic Forecast in a Sept. 6 outlook for Ventura County. Ventura County has seen negative net migration in its population figures for seven out of the last Read More →
