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Dole plc Announces Pricing of Initial Public Offering

·4-min read

DUBLIN, Ireland, July 30, 2021--(BUSINESS WIRE)--Dole plc, a newly created company formed for the combination of Total Produce plc and Dole Food Company, Inc., announced today the pricing of its initial public offering of 25,000,000 ordinary shares at a price of $16.00 per share. The ordinary shares are being offered by Dole plc for total gross proceeds of $400 million, before deducting underwriting discounts and commissions and offering expenses. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3,750,000 ordinary shares at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the New York Stock Exchange on July 30, 2021 under the ticker symbol "DOLE" and the offering is expected to close on August 3, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Deutsche Bank Securities and Davy are acting as lead book-running managers for the offering. BofA Securities, BMO Capital Markets and Rabo Securities are acting as book-running managers for the offering. Stephens Inc. is acting as co-manager for the offering.

A registration statement relating to the shares being sold in this offering was filed with the Securities and Exchange Commission and became effective on July 29, 2021. The offering is being made only by means of a prospectus filed with the SEC, copies of which, when available, may be obtained by contacting Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com, Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York NY, 10005, by telephone at 1-800-503-4611 or by email at prospectus.cpdg@db.com and J&E Davy, Attention: Davy Corporate Finance, Davy House, 49 Dawson Street, Dublin 2, Ireland: by telephone at +353 1 679 6363 or by email at dcf@davy.ie.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Dole plc

The combination of Total Produce plc and Dole Food Company, Inc. with newly formed Dole plc will bring together two complementary, synergistic and culturally aligned organizations each with more than 150 years of history in the fresh produce industry.

Dole plc will be one of the world’s largest producers of fresh bananas and pineapples, and one of the leaders in value added salads and fresh packed vegetables in the United States. It will also have a growing presence in categories such as berries, avocados, and organic produce.

Dole plc will offer over 300 products grown and sourced both locally and globally from over 30 countries in various regions, and distributed and marketed in over 80 countries, across retail, wholesale, and foodservice channels.

Dole plc’s goal is to build a healthier, more sustainable tomorrow by increasing per capita consumption of fruits and vegetables today with a clear vision to "Make the World a Healthier Place."

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements regarding the offering, listing on the New York Stock Exchange and the combination (the "Transaction") between Total Produce plc and Dole Food Company, Inc. Completion of the Transaction remains subject to customary conditions. Forward-looking statements are based on management’s expectations, assumptions, and projections based on information available at the time the statements were made. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including risks and uncertainties related to completion of the Transaction and the offering and the impact of general economic, industry or regulatory conditions, many of which are beyond Dole plc’s control. Any forward-looking statement in this release speaks only as of the date of this release. Dole plc undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210729006248/en/

Contacts

Blake Sonnenshein / Elizabeth Volpe, Brunswick Group
bsonnenshein@brunswickgroup.com / evolpe@brunswickgroup.com
+1 212 333 3810

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