Dole to Decrease Presence in Southern California, Selling its Corporate Headquarters
WESTLAKE VILLAGE, CA - Dole Food Co. looks to be streamlining its operations in Southern California, according to new reports. The company, one of the largest produce operations in the world, is reportedly planning to sell its corporate headquarters in Westlake Village, California, outside of Los Angeles, and close its Oxnard, California, strawberry packing and cooling facility.
In a new article, the Los Angeles Times speculates that Dole’s sell off strategy is to make the company a more attractive stock buy ahead of it’s previously filed for IPO. Filed in April of this year, there hasn’t been much public movement with the proposed IPO, and there has been no word on how much money it plans to raise.
In this same vein, Dole revealed earlier this month that it will close a packing and cooling facility in Oxnard, laying off 172 workers, according to the Ventura County Star.
Bil Goldfield, Director Of Corporate Communications, shared with the publication, “The actions follow a strategic review of the company's current production levels and forecast projections and are part of a continuing initiative to evaluate all berry operations to ensure they remain aligned with our growth objectives and position us to remain competitive in the market place.”
Instead of these Southern California projects, the company may be planning to focus more on its Hawaiian holdings. According to an SEC filing, Dole is hoping to finalize the purchase of property in Oahu by midyear, with plans to turn it into a theme park by the name of Dole Plantation.
As the LA Times reports, the theme park will feature a “Pineapple Express” train tour and a pineapple-themed garden maze, which the company hopes will drive consumer awareness for its brand.
Earlier this week, Goldfield said there is no current plan to move the headquarters to another property. The land and building, he noted, would be off Dole’s books and transferred to Dole Owner David H. Murdock’s Castle & Cook Properties.
As more information is unearthed, AndNowUKnow will continue to report.
