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DOLE plans to use the $400 million gross proceeds from the IPO to repay debt and fund the merger costs.
As the company continues to focus on expanding its business by increasing its organic produce and taking advantage of Total Produce’s strong market presence in Europe, it is well-positioned to capitalize on the growing farm produce industry. However, COVID-19 related supply chain challenges, volatility in commodity food prices, and its substantial debt burden could limit its growth.
