DOLE FOOD COMPANY, INC. ANNOUNCES COMPLETION OF THE ACQUISITION OF SABA TRADING AB
Westlake Village, California - January 03, 2005
Dole Food Company, Inc. today announced that as of January 1, 2005 it acquired the remaining shares of Saba Trading AB. Dole acquired majority ownership in Saba in 1998. Saba is the leading importer and distributor of fruit, vegetables and flowers in Scandinavia. The company is headquartered in Stockholm, Sweden and its subsidiaries have operations throughout Scandinavia.
David H. Murdock, Chairman and Chief Executive Officer of Dole Food Company, Inc., stated: "We are extremely pleased to have acquired the remaining interest in Saba Trading AB. It is an outstanding company and we look forward to building on existing relationships while expanding its customer base."
Dole Food Company, Inc., with 2003 revenues of $4.8 billion, is the world's largest producer and marketer of high-quality fresh fruit, fresh vegetables and fresh-cut flowers. Dole markets a growing line of packaged and frozen foods and is a produce industry leader in nutrition education and research.
This release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Forward looking statements, which are based on management's current expectations, are generally identifiable by the use of terms such as "may," "will," "expects," "believes," "intends" and similar expressions. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include weather-related phenomena; market responses to industry volume pressures; product and raw materials supplies and pricing; electrical power supply and pricing; changes in interest and currency exchange rates; economic crises and security risks in developing countries; international conflict; and quotas, tariffs and other governmental actions. Further information on the factors that could affect Dole's financial results is included in its SEC filings, including its Annual Report on Form 10-K.