Go Back   ManagementParadise.com Discussion Forums Mirror View - Ebooks Links & Miscellenous Reading Material > Company Profiles & News !!

Company Profile of Dole Foods

Discuss Company Profile of Dole Foods within the Company Profiles & News !! forums, part of the Mirror View - Ebooks Links & Miscellenous Reading Material category; ...



Thread Tools Display Modes
Company Profile of Dole Foods
 (1 (permalink))
Pratik Kukreja
pratikkk is on a distinguished road
Jamshedpur, Jharkhand
Management Paradise Member
Status: Offline
Posts: 1,221
Join Date: Mar 2011
Location: Jamshedpur, Jharkhand
Company Profile of Dole Foods - May 5th, 2011

Dole Food Company, Inc. (NYSE: DOLE) is an American-based agricultural multinational corporation headquartered in Westlake Village, California. The company is the largest producer of fruits and vegetables in the world, operating with 75,800 full-time and seasonal employees who are responsible for over 300 products in 90 countries.[5][6] Dole markets such food items as bananas, pineapples (fresh and packaged), grapes, strawberries, salads, and other fresh and frozen fruits and juices.
Dole's Chairman founded the Dole Nutrition Institute, a nutritional research and education foundation.

Dole Food Company, Inc. (Dole), incorporated in 1894, is a producer, marketer and distributor of fresh fruit and fresh vegetables. The Company operates in three business segments: fresh fruit, fresh vegetables and packaged foods. The fresh fruit segment contains operating divisions that produce and market fresh fruit to wholesale, retail and institutional customers worldwide. The fresh vegetables segment produces and markets fresh-packed and value-added vegetables and salads to wholesale, retail and institutional customers, primarily in North America, Europe and Asia. The packaged foods segment contains several operating divisions that produce and market packaged foods including fruit, juices, frozen fruit and healthy snack foods.
The Company has product sourcing and related operations in Chile, China, Costa Rica, Ecuador, Honduras, the Philippines, South Africa, Spain, Thailand and the United States. Dole’s fresh fruit and packaged products are marketed in Canada, Western Europe, Japan and the United States, with lesser volumes marketed in Australia, China, Hong Kong, New Zealand, South Korea, and other countries in Asia, Europe, and Central and South America.
Fresh Fruit
The Company’s fresh fruit business segment has four primary operating divisions: bananas, European ripening and distribution, fresh pineapples and Dole Chile. It sells bananas under the DOLE brand. The Company primarily sell bananas to customers in North America, Europe and Asia. In Latin America, Dole sources its bananas primarily in Honduras, Costa Rica, Ecuador, Colombia, Guatemala and Peru, growing on approximately 35,600 acres of company-owned farms and approximately 80,000 acres of independent producers’ farms. It ships Latin American bananas to North America and Europe in its refrigerated and containerized shipping fleet. In Asia, the Company sources its bananas primarily in the Philippines. Bananas accounted for approximately 42% of the Company’s fresh fruit business segment revenues for the fiscal year ended January 2, 2010 (fiscal 2009).
The European Ripening and Distribution business distributes DOLE and non-DOLE branded fresh produce in Europe. This business operates 24 ripening and distribution centers in nine countries, predominantly in Western Europe. European Ripening and Distribution accounted for approximately 40% of the fresh fruit business segment’s revenues during fiscal 2009.The Company sources its pineapples primarily from Dole-operated farms and independent growers in Latin America, Hawaii, the Philippines and Thailand. It produces and sells several different varieties, including the sweet yellow pineapple. The Company export grapes, apples, pears, stone fruit and kiwifruit from approximately 600 primarily leased acres and 12,300 contracted acres.
Fresh Vegetables
Dole’s fresh vegetables business segment produces and markets fresh-packed and value-added vegetables. It sources fresh vegetables from Dole-owned, leased and contracted farms. Its value-added products are produced in processing facilities in Yuma, Arizona, Soledad, California, Springfield, Ohio and Bessemer City, North Carolina. During fiscal 2009, value-added products accounted for 52% of the Company’s revenues for this segment. The fresh vegetables business segment accounted for approximately 15% of fiscal 2009 consolidated revenues.
The Company sources, harvests, cools, distributes and markets more than 20 different types of fresh and fresh-cut vegetables, including iceberg lettuce, red and green leaf lettuce, romaine lettuce, butter lettuce, celery, cauliflower, broccoli, carrots, brussels sprouts, green onions, asparagus, snow peas and artichokes, as well as fresh strawberries. Products are grown by independent farmers under multi-year contracts, with harvesting primarily provided by the Company. It sells its fresh-packed vegetables products primarily in North America, Asia and, to a lesser extent, Western Europe. The Company’s value-added vegetable products include packaged salads and packaged fresh-cut vegetables.
Packaged Foods
The packaged foods segment produces canned pineapple, canned pineapple juice, fruit juice concentrate, fruit in plastic cups, jars and pouches, fruit parfaits, snack foods and frozen fruit. Fruit for packaged food products is sourced primarily in the Philippines, Thailand, the United States and China, and packed primarily in four Asian canneries, two in Thailand and two in the Philippines. During fiscal 2009, FRUIT BOWL and other non-canned products accounted for approximately 56% of the segment’s revenues.
The Company competes with Chiquita, Fresh Del Monte Produce and Del Monte Foods.

In 2001, Dole began a concerted effort to reduce operating costs and to liquidate non-core and/or under-performing businesses. As a result, Dole discontinued its Beverages segment when it sold its 97 percent stake in the Cerveceria Hondurea S.A. beverage operations. Cash proceeds of $537 million from the sale were used to reduce its debt. In December, Dole's Florida-based fresh-cut flowers distribution operation was transferred into a new 328,000 square-foot building. Net revenues for 2001 were much higher in most of Dole's core businesses primarily as a result of higher prices and volumes for its Premium Select pineapples in North America and Europe; increased volumes for its North American packaged salads business; higher prices and volumes for North American bananas; and increased volumes of its "Fruit Bowls" and "Fruit-n-Gel Bowls" in North America. These increases were offset by the negative impact on revenues from asset sales and business shutdowns.
In 2002, Dole continued its efforts to reduce costs and to eliminate undesirable businesses. Financial results in 2002 were somewhat improved over 2001, with net revenues up while net income went down, being adversely effected by a one-time business reconfiguration charge. Dole's Fresh Fruit segment received strong returns especially in North America, Europe, and Asia, primarily due to its programs in Premium Select pineapple and organic banana. In Dole's Fresh Vegetables segment, its packaged salads increased its market share by 1 percent, to 38.2 percent. Overall, weaker commodity prices were balanced by continued growth in its packaged salads business. In Dole's Packaged Foods segment, financial results improved, gaining market share in canned pineapple and Fruit Bowls (up 4.2 share points from last year, to 43.9 percent). Dole's Fresh Flowers segment reduced its operating loss as a result of an improved cost structure. Dole completed its selling activities of non-core and/or unprofitable businesses, when it sold its Pascual Hermanos vegetable business in Spain and its Saman dried fruit and nut business in France.
Cost-cutting measures in the early 2000s, including job deductions and sale of non-core/unprofitable businesses, helped to increase Dole's earnings so that net revenues grew to $4.77 billion in 2003. In order to maximize future long-term growth and to minimize uncertain short-term exposure to the public equities market, CEO David Murdock and his management partners took the company private in 2003. Murdock and his partners acquired 76 percent of the company's shares as part of a buyout valued at about $2.4 billion ($1.4 billion in stock, plus debt assumption of $1 billion), which gave them total ownership. Subsequently, the company expanded with increased 2003 sales of nearly 9 percent and increased earnings of about 18 percent. In addition, Dole repaid over $200 million in bank debt. Also, in 2003, Dole opened its Dole Nutrition Institute, a group dedicated to educating the public about the health benefits of fruits and vegetables. Dole also broke ground on the new Dole Wellness Center, Spa, and Hotel, which will consist of medical facilities with state-of-the-art diagnostic services, 267-room hotel, conference center, full-service spa and fitness center, and television production facility.
As of 2004, Doles' primary business segments were: Fresh Fruits, Fresh Vegetables, Packaged Foods, and Fresh Flowers. During 2004, Dole purchased J.R. Wood, Inc., a manufacturer and marketer of fresh frozen fruit products, and Coastal Berry Co. LLC, one of the largest producers of strawberries in the United States.
By holding the number one or number two position within its industry with regards to many of its major products, Dole has positioned itself to meet the future requirements of retailers through the delivery of high-quality and innovative produce, competitive product pricing, and reliable service. The company has also diversified globally so that its operations in 28 countries now distribute products to more than 90 countries; a plan that helps Dole reduce losses from natural disasters and political problems. Dole has built a state-of-the-art production, processing, transportation, and distribution structure and has become among the lowest cost producers within many of its major product lines. Over many decades, Dole has built a strong global brand that is easily recognized by consumers worldwide. Over the last few years, the company has begun to focus its operations on identifying to consumers why fruits and vegetables are beneficial to good nutrition.
Principal Subsidiaries: Dole Fresh Fruit Company; Dole Fresh Vegetables; Dole Packaged Foods; Royal Packing Co.; CCI Farms; Finesse Farms; Coastal Berry Co. LLC; Four Farmers Inc.; Floramerica Co.; J.R. Wood, Inc.; Sunburst Farms Inc.; Beebe Orchard Co.; Wells & Wade Fruit Co.; SABA Trading AB (60%; Sweden).
Principal Operating Units: Dole Latin America; Dole Asia; Dole Europe; Dole Worldwide Packaged Foods; Dole Worldwide Fresh Vegetables; Dole Fresh Flowers; Dole North America Tropical Fresh Fruit; Dole Chile.
Principal Competitors: Chiquita Brands International, Inc.; Fresh Del Monte Produce Inc.; Del Monte Foods Company; Fyffes plc.

Beta: 0.88
Market Cap (Mil.): $1,214.53
Shares Outstanding (Mil.): 88.59
Annual Dividend: --
Yield (%): --
DOLE.K Industry Sector
P/E (TTM): -- 24.02 20.41
EPS (TTM): -129.36 -- --
ROI: -1.34 2.12 7.89
ROE: -4.62 3.56 14.34

Private Company
Incorporated: 1894 as Castle & Cooke Co., Inc.
Employees: 59,000
Sales: $4.77 billion (2003)
NAIC: 11121 Vegetable and Melon Farming; 111211 Potato Farming; 111219 Other Vegetable (Except Potato) and Melon Farming; 111310 Orange Groves; 111320 Citrus (Except Orange) Groves; 111331 Apple Orchards; 111332 Grape Vineyards; 111333 Strawberry Farming; 111334 Berry (Except Strawberry) Farming; 111335 Tree Nut Farming; 111336 Fruit and Tree Nut Combination Farming; 111339 Other Noncitrus Fruit Farming; 111422 Floriculture Production; 311411 Frozen Fruit, Juice, and Vegetable Manufacturing; 311421 Fruit & Vegetable Canning; 311423 Dried and Dehydrated Food Manufacturing; 311520 Ice Cream and Frozen Dessert Manufacturing; 311911 Roasted Nuts and Peanut Butter Manufacturing

Key Dates:
1851: Castle and Cooke obtain licenses to sell wholesale products in Hawaii.
1858: Castle and Cooke enter the food business with an investment in Hawaii's sugar industry.
1894: Castle & Cooke Co. is incorporated.
1901: James Dole begins growing pineapple and incorporates his company as the Hawaiian Pineapple Company.
1932: Castle & Cooke acquires a 21 percent ownership of Hawaiian Pineapple Company.
1961: Castle & Cooke and the Hawaiian Pineapple Company merge.
1964: Castle & Cooke enters the banana business.
1986: The Dole brand enjoys a worldwide recognition rate of 98 percent.
1991: Castle & Cooke changes its name to Dole Food Company, Inc.
1996: Dole pioneers packaged fresh salad mixes.
2003: CEO David Murdock completes deal that converts Dole to private company.

Name Age Since Current Position
Murdock, David 87 2007 Chairman of the Board
DeLorenzo, David 64 2007 President, Chief Executive Officer, Director
Tesoriero, Joseph 57 2010 Chief Financial Officer, Executive Vice President
Carter, C. Michael 67 2009 Executive Vice President, General Counsel, Corporate Secretary
Murdock, Justin 38 2004 Vice President - New Products and Corporate Development, Director
Conrad, Andrew 47 2003 Independent Director
Chao, Elaine 58 2009 Independent Director
Lansing, Sherry 66 2009 Independent Director
Weinberg, Dennis 58 2009 Independent Director

One Dole Drive
Westlake Village, California 91362

Friends: (0)
Reply With Quote


advertising strategies, board of directors, branding strategy, business description, business strategy, company brands, company history, company overview, company profile, company strategy, company strengths, compnay growth, dole foods, financial analysis, investor relation, key challenges, marketing strategy, swot of company
Related to Company Profile of Dole Foods

Similar Threads

Thread Thread Starter Forum Replies Last Post
Company Profile of Del Monte Foods Pratik Kukreja Company Profiles & News !! 0 May 4th, 2011 06:02 PM
Company Profile of Dean Foods Pratik Kukreja Company Profiles & News !! 0 May 4th, 2011 05:38 PM
Financial Analysis of Dole Foods Netra Shetty Financial Management 0 February 11th, 2011 01:17 PM

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off

ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.

Search Engine Optimization by vBSEO ©2011, Crawlability, Inc.