Banacol Marketing’s owner reorganizes

04/03/2014 03:00:00 PM
Andy Nelson

banacol logoThe parent company of Coral Gables, Fla.-based Banacol Marketing Corp. is undergoing a reorganization, but the company would not address rumors that Dole Fresh Fruit is considering a bid to buy the company.

Colombia-based CI Banacol SA is undergoing a financial reorganization under Colombia law 1116, said Victor Henriquez, the company’s president and chief executive officer.

“Banacol, as well as other companies in the industry, have faced difficulties due to external factors,” Henriquez said. “We are now working toward a strategic business plan in the long term.”

Banacol grows 21,498 acres of bananas, according to the company's website.

The goal of the reorganization is an “adequate financial structure, and competitiveness and viability of the business,” he said.

“This will not affect the normal operation of the company, because it is a financial reorganization in Colombia and does not derive from problems in business production and marketing of fruit, supplies and services,” Henriquez said.

Henriquez said that Banacol has sold some of its pineapple farms in Costa Rica to Dole, but he did not address trade media reports that Dole is considering trying to buy Banacol.

Bil Goldfield, Dole’s director of corporate communications, also would not comment on the rumors.



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