Dole Foods files for an IPO … again

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Dole Foods, one of the world’s top producers of bananas and pineapples, has unveiled plans to go public again after being taken private by billionaire David Murdock a little more than three years ago.

An IPO would mark the latest twist in what has been a long-running saga involving Mr Murdock, who bought the 166-year old company in November 2013 for $1.2bn. Mr Murdock, a nonagenarian who has vowed to live to 125 years old, had bought the company another time, in 2003, and floated its shares in 2009.

Dole, which distributes fruits and vegetables to as far as North America, Europe and South Africa, said it plans to raise up to $100m in the offering. The figure is likely a placeholder that will change as underwriters market the deal.

The group generated $4.51bn in net revenues in the fiscal year through December 31, 2016, according to the filing with US securities regulators. It posted a net loss of $23.7m over the period.

Mr Murdock owns all of the California-based company, the filing says. Morgan Stanley, Merrill Lynch and Deutsche Bank are listed as the underwriters.

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