Dole Philippines Inc. (DOLEFIL) #38027
Created at
2014-04-28
Last update
2025-08-28
5 Parents (Involvements as child)
ID
Name
Itochu Corporation
Country of registration/origin
Japan
Classification
Stock-exchange listed company
Relationship
Parent company
Parent relation
Joint venture of parent companies
Comment
Ultimate parent of Dolefil.
Itochu acquired Dole’s Asian fresh produce business, gaining 100% ownership of Dole Philippines. It provided capital (e.g. ~$58M additional in 2016) to expand plantations by ~55%. Itochu is one of the world’s largest sōgō shōsha (trading houses), and this project fit its strategy to grow its food division in emerging Asian markets.
ID
Name
Dole Food Company, Inc.
Country of registration/origin
United States of America
Classification
Stock-exchange listed company
Relationship
Parent company
Parent relation
Joint venture of parent companies
Comment
Divestment – sold Asia assets for $1.7B to Itochu Corporation
Dole Food Co. (US) was the owner of Dolefil until 2013. Chairman David Murdock agreed to sell Dole’s Asia fresh fruit and canning operations to Itochu. Post-sale, Dole Food (now Dole Plc) no longer has ownership in Dole Philippines. (This sale injected funds into Dole Food and transferred the entire Philippine venture to Itochu). Thus Dole Food’s role is historical; it built the initial plantations but is no longer an investor in the current project.
Draft
ID
Name
Land Bank of the Philippines
Country of registration/origin
Philippines
Classification
Bilateral Development Bank / Development Finance Institution
Relationship
Tertiary investor/lender
Investment type
Debt financing
Loan amount
412 800 000
₱
Loan date
2022-12-13
Comment
LandBank plays a facilitating role by lending to farmer cooperatives that partner with Dole. For example, it extended ₱212.8M to the Laconon 100 MPC in 2022 to fund pineapple production on ~1,400 ha. It also signed a tripartite MOA with Dolefil and the coop to ensure credit and technical support.
Essentially, LandBank’s capital enables smallholders to participate in the Dole supply chain (buy inputs, equipment), with the assurance that Dole will buy their produce. This reduces risk for both Dole (steady supply) and farmers (market guarantee). LandBank’s involvement reflects government support to the venture in the form of affordable financing
Draft
ID
Name
DARBCI (Dolefil ARB Coop, Inc.)
Country of registration/origin
Philippines
Classification
Other
Relationship
Tertiary investor/lender
Investment type
Shares/Equity
Comment
DARBCI consists of over 7,500 farmer-beneficiaries who legally own the land of Dole’s main plantation (Polomolok) after land reform. They are not investors in the monetary sense, but they contribute the critical asset of land. In return, they receive lease rental and bonuses from Dole, and many members work on the plantation. DARBCI’s partnership with Dolefil is central to the project’s land base. The coop’s role illustrates how land reform landholders have been integrated into a multinational’s operations via long-term contracts.
Draft
ID
Name
Laconon 100 Multi-Purpose Cooperative
Country of registration/origin
Philippines
Classification
Other
Relationship
Tertiary investor/lender
Comment
This cooperative of 445 farmer-members in T’boli, Surallah, Lake Sebu, Banga areas provides pineapples to Dole under a growership arrangement. The coop itself received loans (₱200M in 2017, ₱224M in 2023) to expand and mechanize its farms, showing an investment at the farmer level. Under the tie-up, Dolefil is the exclusive buyer of their produce. The coop and its members effectively invest their labor and land into the project. Their inclusion in the investment chain demonstrates how small producers are financially and contractually linked to the multinational’s operations.
0 Children (Involvements as parent)
1 Deals (Involvements as Operating company)
ID
Target country
Philippines
Current intention of investment
Food crops
Current negotiation status
Concluded (Contract signed)
Current implementation status
In operation (production)
Deal size
16 571 ha