WESTLAKE VILLAGE, Calif. (AP) — Dole says it's in advanced talks to sell its packaged foods and Asia fresh businesses to Japanese trading company Itochu Corp.
The news sent the Westlake Village, Calif.-based fruit and vegetable company's shares up nearly 10 percent in afternoon trading.
Dole Food Co. says that no deals have been signed and it continues to talk with several other parties regarding those assets and others.
The company said in July that it was considering a possible sale or spin-off of its packaged foods business as part of its strategic review of its operations. It said then that it expected to reach one or more deals by the end of the year.