Arable Capital Partners Expands Fresh Produce Portfolio Following Strategic Acquisition from Dole

Dole plc (NYSE: DOLE), the global fresh produce enterprise operating across more than 75 countries, has successfully finalized a major divestment transaction. The company transferred its controlling 65% stake in Progressive Produce LLC to PTF Holdings, LLC, which operates as the investment vehicle for Pacific Trellis Fruit, LLC. This transaction represents a continued shift in Dole’s portfolio management strategy.

Transaction Details and Financial Impact

The transaction closed with Dole receiving gross proceeds totaling $120.25 million. The buyer, PTF Holdings, functions as a portfolio company under Arable Capital Partners, LLC, signaling Arable’s continued commitment to consolidating operations within the fresh produce and agribusiness sectors. This acquisition marks another significant addition to Arable Capital Partners’ growing network of food value chain investments.

Strategic Context: Arable Capital Partners’ Investment Approach

Arable Capital Partners has positioned itself as a prominent investor in sustainable food and agribusiness ventures. The firm currently manages five platform companies spanning the agricultural and fresh produce landscape, including Pacific Trellis Fruit (now expanded through this Progressive Produce acquisition), organicgirl, Royal Ridge Fruits, Blazer Wilkinson Gee, and Laurel Ag & Water. The organization’s investment thesis centers on partnering with businesses and ownership teams throughout the food supply chain, with particular emphasis on sustainable practices.

About the Companies

Dole plc operates as a vertically integrated fresh produce company, managing cultivation, marketing, and distribution of diverse produce varieties sourced from both local suppliers and international partners. The company serves customers in over 75 countries with a stated mission to advance global health and environmental sustainability.

Arable Capital Partners’ acquisition strategy reflects the broader consolidation trend within specialty produce distribution and sustainable agriculture. By integrating Progressive Produce into the Pacific Trellis Fruit ecosystem under Arable’s stewardship, the transaction demonstrates continued investor interest in strengthening competitive positioning within the fresh produce sector.

Note: This transaction was initially disclosed on February 27, 2024, and concluded during the subsequent reporting period.