Pioneer Hi-Bred Acquires 2,140 Acres Of Dole Land
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Del.icio.usDole Food Co. recently sold 2,140 acres of North Shore farmland to seed grower Pioneer Hi-Bred International Inc. for a total of $39.3 million, and it also hopes to sell 5,000 acres of land near Wahiawa.
Pioneer has said it intends to keep the purchased land in agriculture, adding that “it’s one way to ensure that the country is kept country.” Pioneer also owns 273 acres of land in Kunia.
Dole has reported dramatic net losses - close to $148 million - within the past couple years, stating that the North Shore sale, along with two additional sales in Miami and California, have been a way to shed its nonstrategic or underperforming accumulated assets around the world to help pay off debt.
Pineapple and sugar crop production have steadily decreased over the past decades as competition grew from mass production in the Philippines, Thailand and other countries. As the last major pineapple grower on Oahu and the second-largest in the state, Dole has cut back drastically on local agricultural operations. Yet it remains one of the largest international producers of fresh fruits and vegetables.
Despite financial hurdles, Dole said it plans to continue its agricultural operations in Hawaii, growing pineapple, coffee and cacao on a combined 2,895 acres across the state.
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