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Fruit of the IPO market: Dole Food Company files for a US IPO that could raise $400 million

April 25, 2017
DOLE.RC

Dole Food Company, a leading global branded fruit and vegetable company, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $400 million.

The West Village, CA-based company was founded in 1851 and booked $4.5 billion in sales for the 12 months ended December 31, 2016. It has not selected an exchange or a ticker (DOLE.RC). Morgan Stanley, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.