A joint venture between SABMiller and China Resources Enterprise outbid the competition and will now acquire Kingway Brewery Holdings Limited's brewer business for $864 million.
The brand holds the No. 2 share in this growing center-of-the-store category and is the leading brand in the faster growing subcategory of natural peanut butter.
Dole received unconditional approval from the Chinese Ministry of Commerce to implement the sale of its worldwide packaged foods and Asia fresh produce business to ITOCHU. Two lines of fresh produce business will remain with the new Dole following the the transaction: fresh fruit and fresh vegetables.
With 36,000 employees and sales of approximately $18 billion annually, the combined company is one of the largest packaged food companies in North America.
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