Dole plc (NYSE: DOLE), a global leader in fresh produce, has officially announced the successful completion of the sale of its Fresh Vegetables Division to og Holdco LLC, the parent company of organicgirl LLC. The buyer is a portfolio company of Arable Capital Partners, LLC, an investment firm focused on food and agriculture businesses. This strategic transaction marks a significant milestone for Dole as it continues to optimize its operations and align its portfolio with long-term growth objectives.
Transaction Overview
The transaction was executed for a total consideration of $140 million, structured as $90 million in cash, a $50 million seller note, and a potential $10 million earn-out based on future performance metrics. The cash portion of the deal remains subject to standard post-closing adjustments, including net working capital, cash on hand, and outstanding debt. As part of the agreement, Dole will retain ownership of its facilities located in Huron, California, and Yuma, Arizona, which are not included in the sale.
This divestiture reflects Dole’s broader strategic focus on strengthening its core business areas, which include tropical fruits, bananas, pineapples, and value-added fresh produce, while enabling the Fresh Vegetables Division to flourish under new ownership with a more targeted investment approach.
About the Fresh Vegetables Division
Dole’s Fresh Vegetables Division is a major player in the U.S. vegetable market, with a comprehensive portfolio of whole and fresh-cut produce. Its product offerings include popular items such as iceberg and romaine lettuce, leaf lettuce, cauliflower, broccoli, celery, asparagus, artichokes, green onions, sprouts, radishes, and cabbage, along with packaged salads and salad kits. The division operates across a broad agricultural footprint, with three major processing facilities in the United States and a workforce of over 3,000 employees.
With its vertically integrated model, the division spans everything from farming and harvesting to processing and distribution, ensuring consistent product quality and supply chain efficiency. Over the years, it has established strong relationships with major retailers, foodservice operators, and distributors nationwide.
Strategic Rationale and Commentary from Dole
The divestment of the Fresh Vegetables Division aligns with Dole’s strategic plan to streamline operations and focus more intensely on its strongest-performing categories.
In an official statement, Carl McCann, Executive Chairman of Dole plc, emphasized the significance of the transaction:
“We are pleased to announce the sale of our Fresh Vegetables Division to Arable Capital. A combination with organicgirl will create a strong platform to realize operational efficiencies and expand the overall offering and service to customers and consumers.
The completion of this sale represents an important strategic milestone for the Group and will enable us to further concentrate our efforts and investments on our core business activities.
We would like to thank the dedicated management and employees of the Fresh Vegetables business for their valuable contributions and commitment over the years.”
Dole’s decision to divest is consistent with trends seen across the food and agribusiness sectors, where companies are increasingly rationalizing their portfolios to sharpen focus, reduce complexity, and reallocate capital more effectively. For Dole, the proceeds from the sale provide greater financial flexibility and the opportunity to reinvest in areas where it holds category leadership.
organicgirl and Arable Capital’s Growth Vision
The buyer, og Holdco LLC, is the parent company of organicgirl LLC, a well-known California-based brand specializing in premium, organic salad greens and beverages. Founded in 2007, organicgirl has built a strong presence in the U.S. health-conscious consumer segment, particularly in natural and organic retail channels.
The acquisition of Dole’s Fresh Vegetables Division is expected to provide organicgirl with enhanced scale, access to broader distribution networks, and an expanded product portfolio that complements its core offerings. By leveraging Dole’s extensive infrastructure and operational expertise, organicgirl is poised to significantly grow its market reach while maintaining its emphasis on organic and sustainable produce.
Derek Yurosek, Managing Director of Arable Capital Partners, shared his perspective on the deal:
“With strong brands and presence across multiple channels, as well as strong leadership, Dole Fresh Vegetables is an outstanding addition to our portfolio that is positioned for continued growth and success.”
Yurosek highlighted that Arable Capital intends to support the acquired business with long-term investments in innovation, supply chain enhancement, and consumer engagement, all aimed at capitalizing on shifting consumer preferences toward fresh, healthy, and responsibly grown produce.
Implications for the U.S. Fresh Produce Industry
The transaction represents a notable development in the highly competitive and rapidly evolving U.S. fresh produce market. Consumer demand for fresh vegetables, particularly organic and convenient salad solutions, has continued to rise over the past decade, driven by trends in health, wellness, and sustainability.
By combining Dole’s scale and operational footprint with organicgirl’s brand recognition and specialty focus, Arable Capital is creating a vertically integrated vegetable business that is well-equipped to respond to both retail and foodservice demands.
Industry analysts view the deal as a win-win: Dole streamlines its business and strengthens its financial position, while Arable and organicgirl gain significant market leverage and supply chain capabilities. The integration of both companies will also likely yield synergies in sourcing, packaging, and distribution, which could translate into improved margins and enhanced customer service.
