Fresh Del Monte bids dwindle by Soma Biswas and Lisa Gewirtz Updated 11:24 AM EST, Jan-6-2006
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Bananas aside, the company could grow. In the deal books sent to potential buyers, the company projected its Ebitda will double from around $200 million in 2005 to $400 million in five years, according to one source.
An official at Fresh Del Monte did not immediately return calls.
One of the remaining bidders, Madison Dearborn, made another investment last year in a fresh produce business, buying Bolthouse Farms Inc., one of the biggest carrot farmers in the U.S., for more than $1 billion, or 9 times