Apollo Global Management, LLC and Metropoulos & Co. submit a $410 million offer for the majority of the assets of the company's snack cake business, which includes both Hostess and Dolly Madison branded products, including the iconic Twinkies brand.
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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The two companies will also explore the opportunities for a joint diamond polishing venture bringing together the manufacturing and diamond expertise of the two companies.
