Dole sells Fresh Vegetables Division for $140M

Dole (DOLE) plc “announced that certain of its subsidiaries have completed a sale of Dole’s Fresh Vegetables Division to og Holdco LLC, the parent company of organicgirl LLC, a portfolio company of Arable Capital Partners, LLC. The consideration for this sale is $140 million, comprising $90 million in cash and a $50 million seller note, and a $10 million potential earn out. The cash portion of the Purchase Price is subject to customary adjustments for net working capital, cash, and indebtedness. Dole is retaining its facilities in Huron, California and Yuma, Arizona.”