Fruit and fresh vegetable distributor Dole Food Co Inc (DOLE.N) may spin off one or more of its units as the company initiated a strategic business review of its business.
The company said it may consider a full or partial separation of one or more of its businesses through a spin-off or other capital markets transaction.
Dole Foods also reported a lower first-quarter revenue mostly due to a fall in sales at its European fresh fruit distribution business and lower banana prices in North America.
"Our first quarter results were impacted by extraordinarily low prices in all of our major commodity vegetables," CEO David DeLorenzo said in a statement.
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