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. Last Updated: 07/27/2016

Dole Hires Adviser

WESTLAKE VILLAGE, California -- Dole Food Co. Inc., which last month warned of lower-than-expected earnings for the fourth quarter, said Tuesday it had hired Goldman Sachs & Co. to explore strategic alternatives.

The company, which has struggled with an oversupply of bananas in Europe and weak lettuce prices in the United States and has had to cut costs in its fresh-cut flowers unit, said there could be "no assurance that any strategic alternative will be pursued or that any transaction will be consummated."

Dole, the world's largest producer and marketer of fresh fruit and vegetables, said in December that its fourth-quarter earnings from continuing operations were expected to come in between 2 cents and 4 cents a share, compared with a loss of 13 cents a share a year ago.