Dole may take over Banacol

Eurofruit reports that there are rumours in the market that Dole is planning to fully or partially take over Banacol. Dole acquired Banacol pineapple plantations in Costa Rica at the beginning of the year, so further integration would not be an illogical step. It seems that both companies have been in discussion for months. Dole may hope to win market shares with this fusion, to compete with the recent fusion between Chiquita and Fyffes.

In mid March Banacol announced that the group will be undergoing significant reorganisation. This announcement was a result of the turnover that has been put under pressure and strengthened by unfavourable exchange rates, low banana prices on the international market and high production costs.

Source: Eurofruit

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