Market Overview

David H. Murdock Completes Dole Food Company Investment Transaction with Total Produce, plc


Dole Food Company announced today that owner David H. Murdock has
completed the sale of a 45% equity stake in Dole Food Company to Total
Produce, plc, the leading European produce company, headquartered in
Dublin, Ireland. This follows the European Commission (the "EC")
approval of the transaction.

"I am excited for the future of Dole in our relationship with Total
Produce. They have a long and successful history in the produce
industry, and I have complete confidence that as the premier produce
brand, Dole will be able to tap that expertise in growing our position
worldwide," said David Murdock. "Both Dole and Total Produce have a
standard of perfection that leads the industry in innovation, together
we will further our joint mission of providing the highest quality
produce to the world."

Total Produce brings strong and knowledgeable industry leadership and
produce expertise. The organization differs from many of its peers by
virtue of its local and global infrastructure and specifically the
distribution capacity and the on-the-ground presence in key growing
regions around the world. With this investment, Dole increases it
long-term growth prospects and further enhances its ability to serve its

Post-closing of the transaction, Total Produce and Mr. David H. Murdock
will have balanced governance rights with respect to Dole. The Board of
Directors of Dole will comprise six members, three of which are to be
appointed by Mr. David H. Murdock (Ms. Janine Peck, Ms. Roberta Wieman
and Mr. David H. Murdock) and three be appointed by Total Produce (Mr.
Carl McCann, Mr. Rory Byrne and Mr. Jimmy Tolan).

Mr. David H. Murdock will continue as Chairman of Dole and Mr. Carl
McCann will be appointed Vice Chairman. Major decisions will require
consent of at least one Board Member appointed by each of Total Produce
and Mr. David H. Murdock.

Mr. Johan Lindén will remain Dole's President and CEO, and the
management team will also remain in their current roles and continue to
lead the organization into the future.

"We are delighted to conclude this very substantial transaction with
David Murdock who has been an inspirational and visionary leader since
he acquired a majority shareholding in Dole in 1985," commented Mr. Carl
McCann, Chairman of Total Produce. "Dole is one of the world's foremost
fresh produce companies and we look forward with great enthusiasm to
working very closely together with David and his excellent management
team to continue to develop the business in the future."

The leaderships of both companies agree that Dole customers, growers and
partners should expect the same high quality experience they have always
had. That will not change with this transaction.

About Dole Food Company, Inc.

Food Company, Inc.
, is one of the world's largest producers and
marketers of high-quality fresh fruit and fresh vegetables. Dole is an
industry leader in many of the products it sells, and is a strong
advocate of healthy eating and nutrition education. For more
information, please visit

About Total Produce, PLC

Total Produce is one of the world's largest and most accomplished fresh
produce providers. Operating out of 25 countries while serving many
more, Total Produce‘s global infrastructure of over 146 facilities
extends across Europe, North and South America and India and includes
growing, sourcing, importing, packaging, marketing and distributing over
300 lines of fresh produce. For more information, please visit

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