Pursuant to pre-existing agreements, Dole initiated the process and will either buy the 65 per cent of JP Fruit Distributors it does not already own, or sell its own 35 per cent of UK importer and packer.
Owner of the 65 per cent interest Jamaica Producers Group is now required either to accept Dole's offer to buy the 35 per cent stake or sell its own stake to Dole. Jamaica Producers will consider the offer at its board meeting in Jamaica on Monday.
In a statement issued by the US multi-national, Dole said it is considering expressions of interest by potential partners with respect to the ownership and operation of JP Fruit Distributors, should it end up as the buyer.
David Maynard, managing director of the UK-based firm told freshinfo this week it was too early to comment further on the deal.
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