WESTLAKE VILLAGE, CALIF. — BAMA Gruppen AS, Oslo, Norway, has reached an agreement to acquire the Dole Food Co.’s fresh-cut produce businesses in Sweden and Finland. Saba Fresh Cuts AB, with production in Helsingborg, Sweden, and Saba Fresh Cuts OY, with production in Espoo, Finland, supply washed and ready-to-eat salads and vegetables to the retail and food service industries in Sweden, Denmark, Finland, Germany and the Baltic States.
The sale of Saba Fresh Cuts AB was a necessary condition of the European Commission’s approval of an investment in Dole by Total Produce P.L.C. in July. Total Produce, an Ireland-based fresh produce company, entered into an agreement earlier in the year to acquire a 45% equity stake in Dole Food from David H. Murdock for a cash consideration of $300 million.
“I am very pleased with the outcome of this sale in meeting the E.U.’s requirement,” said Johan Linden, president and chief executive officer of Dole Food, “and I am confident that Saba Fresh Cuts will be in good hands under BAMA’s ownership.”
BAMA Gruppen AS is Norway’s largest distributor of fruit and vegetables.
“Convenience products and ready-to-eat salads and vegetables is a fast-growing category in all markets, and Saba Fresh Cuts is a solid and very professional player, with a strong organization and high-quality products,” said Rune Flaen, c.e.o. of BAMA Gruppen.
The transaction is expected to close in the first quarter of 2019 and is subject to approval by the European Commission.
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