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 →
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 →
TWIW creates CEO position to lead firm’s growth plans
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Clipper sued for $60M amid layoffs
Carpinteria-based Clipper Windpower faces a $60 million lawsuit from a wind farm developer shortly after it laid off 174 people. First Wind Energy, a Boston-based wind farm developer with projects in New York, Hawaii and several other states, filed suit on Sept. 4 in Santa Barbara County Superior Court. Most of the complaint is sealed. Read More →
Eagle Castle Winery files for Ch. 11 protection
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