Dutch multinational banking and financial services company Rabobank has agreed a US$300m loan facility with Irish-headquartered Total Produce to fund its purchase of a strategic investment in US-based Dole Food Company.
As part of the transaction, Total Produce will also be raising additional equity and debt, with Rabobank the co-lead manager on the equity placing.
Total Produce’s acquisition of Dole, which was announced on the Dublin stock exchange yesterday, will be subject to anti-trust review in a limited number of jurisdictions and is expected to close by the middle of 2018.
Rabobank has been Total Produce’s banking partner since its inception.
