“Revenue $4.25 B As of December 2013
At a Glance
- Industry: Food, Drink & Tobacco
- Founded: 1851
- Country: United States
- CEO: David H. Murdock
- CFO: Keith Mitchell
- Website: www.dole.com
- Employees: 25,000
- Fiscal Year End: Dec 31, 2012
- Sales: $4.25 B
- Headquarters: Los Angeles, CA
#96 America’s Largest Private Companies
Founded in Hawaii in 1851, Dole Food is one of the worldâ€™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, as well as in nutrition education and research. In April, 2013, Dole sold its worldwide packaged foods and Asia fresh produce businesses to Japan’s ITOCHU Corp. In November, 2013 Chairman and CEO David Murdock took the company private again by acquiring the 60 percent of stock he and his family don’t already own. Murdock previously took Dole private in 2003 before going public in 2009.”
“Dole Food History
The company traces its origin to the 1851 establishment of Castle & Cooke by missionaries Samuel Northrup Castle and Amos Starr Cooke. Castle & Cooke rapidly became one of the largest companies in Hawaii, investing in shipping, railroad construction, sugar production, and seafood packing. The other half of Dole’s corporate heritage, the Hawaiian Pineapple Company, was founded in 1901 by James Dole, who opened his first pineapple plantation in the central plateau of the Hawaiian island of Oahu. Sanford Dole, the cousin of James, had been president of the Republic of Hawaii from 1894 after the overthrow of the Kingdom of Hawaii (her last monarch, Queen Liliʻuokalani), and first governor of the Territory of Hawaii until 1903. The annexation of Hawaii to the United States made selling agricultural products to the mainland much more profitable, since they would never be subject to import tariffs.
In 1932, Castle & Cooke purchased a 21% interest in the Hawaiian Pineapple Company. In the 1960s, Castle & Cooke acquired the remainder of the Hawaiian Pineapple Company and the Standard Fruit Company and renamed the company “The Dole Food Company, Inc” in 1991. Castle & Cook also owned Bumble Bee Foods from 1961 until the 1980s.
It was then the third largest producer and U.S. importer of bananas. Dole and Chiquita remain the top two U.S. banana companies as of 2011.
In 2011, the company reported $7.2 billion in annual revenue. It is a publicly traded company on the NYSE (DOLE).
Castle & Cooke Inc, a real estate company, was spun off in 1995; it is currently operating as a subsidiary of Flexi-Van Leasing, Inc.
Dole operates plantations throughout Central and South America, and in the Asia-Pacific region, with plantations in the Philippines and two packing plants in Thailand, Hua Hin and Chumphon.
PepsiCo distributes Dole’s Single Serving Juices.
Dole Food Company Inc. has agreed to sell its worldwide packaged foods and Asia fresh produce businesses to Japanese trading houseItochu Corporation for $1.7 billion in cash.
In August 2013, Dole announced it has sold itself to CEO David Murdock for $1.2 billion.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “DoleTube“