DOLE FOOD COMPANY, INC. ANNOUNCES THE ACQUISITION OF COASTAL BERRY COMPANY, LLC
Westlake Village, California - October 15, 2004
Dole Food Company, Inc. today announced that it has completed the acquisition of Coastal Berry Company, LLC. Coastal Berry is a leading producer of fresh California coastal strawberries and bushberries (raspberries and blackberries). With this acquisition, Dole should become the third largest producer of fresh strawberries for 2004. Fresh strawberry consumption continues to grow on a per capita basis driven by its broad consumer appeal and exceptional nutritional properties.
David H. Murdock, Chairman and Chief Executive Officer of Dole Food Company, Inc., stated: "We are extremely pleased with our acquisition of this producer of high-end fresh berries. This acquisition is a part of Dole's strategy to expand its line of fresh products to better serve its customers and to provide consumers with nutritious, healthy products."
Dole Food Company, Inc., with 2003 revenues of $4.8 billion, is the world's largest producer and marketer of high-quality fresh fruit, fresh vegetables and fresh-cut flowers. Dole markets a growing line of packaged and frozen foods and is a produce industry leader in nutrition education and research.
This release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Forward looking statements, which are based on management's current expectations, are generally identifiable by the use of terms such as "may," "will," "expects," "believes," "intends" and similar expressions. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include weather-related phenomena; market responses to industry volume pressures; product and raw materials supplies and pricing; electrical power supply and pricing; changes in interest and currency exchange rates; economic crises and security risks in developing countries; international conflict; and quotas, tariffs and other governmental actions. Further information on the factors that could affect Dole's financial results is included in its SEC filings, including its Annual Report on Form 10-K.