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Stockholders Approve Sale Of Dole’s Worldwide Packaged Foods And Asia Fresh Businesses

“I am eagerly looking forward to working more closely with David Murdock and Dole’s extraordinarily talented and experienced operational and corporate management team and dedicated and energetic employees throughout our organization,” said Mr. Carter. “Our resulting business profile will have lower fixed costs and hence more operating flexibility, with more clarity and focus, allowing us to dedicate our resources more fully to operating and growing our remaining fresh fruit and vegetable businesses. Our new capital structure will also provide us with increased flexibility, and will allow us to react quickly to any acquisition opportunities in the commodity produce sector, which we expect would be funded by anticipated new borrowings and future internally generated free cash flow.”

This release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Forward- looking statements, which are based on management’s current expectations, are generally identifiable by the use of terms such as “may,” “will,” “expects,” “believes,” “intends,” “anticipates” and similar expressions. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include the timing and whether the sale transaction is consummated, weather-related phenomena; market responses to industry volume pressures; product and raw materials supplies and pricing; energy supply and pricing; changes in interest and currency exchange rates; economic crises and security risks in developing countries; international conflict; and quotas, tariffs and other governmental actions. Further information on the factors that could affect Dole’s financial results is included in its Proxy Statement and other filings with the SEC.

Copyright Business Wire 2010
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