Dole will continue to ship bananas, pineapple through Delaware

The Port of Wilmington signed a deal that will keep its largest customer and 850 jobs in place.

Dole Food Co. signed a 15-year lease to stay at the port, extending what has already been a three-decade stay, Delaware Gov. Jack Markell’s office said Tuesday.

Dole brings in bananas, pineapples and other fruit to Wilmington. On the way out, its ships are loaded with forest products and general cargo. Dole makes about 52 “vessel calls” a year.

Its lease includes 37.7 acres at the port and 100,000 square feet of warehouse-and-office space.

Dole Food (NYSE: DOLE), with 2012 revenue of $4.2 billion, is one of the world’s largest producers and marketers of fresh fruit and vegetables.

“We are confident that this decision will help maintain Dole’s position as a top brand in the very competitive North American fruit market and we look forward to enjoying a long and mutually supportive relationship with the port for many years to come,” Stuart Jablon, vice president and general manager of operations for Dole Fresh Fruit, said.

As part of terms of the lease, the port’s operator, Diamond State Port Corp. agrees to increase the number of cranes and do other upgrades at the Dole facility.

The Port of Wilmington, which is at the confluence of the Christina and Delaware rivers, generates $384 million in annual revenue and supports 5,200 jobs.

Source: Philadelphia Business Journal