Total Produce Share Discussion Threads

[badger8888] 19/2/2021 09:40

https://fintel.io/n/taylor-family-investments-llc

[badger8888] 19/2/2021 09:39

Very interesting, they own 10% of Mission Produce. See earlier posts that mention Mission.

[eircomnet] 19/2/2021 08:41

Thanks for that badger.

[18bt] 19/2/2021 07:15

Disclosable stake from a US family office, presumably looking to arbitrage into the US listing on higher multiples.

[badger8888] 18/2/2021 23:18

Early days, however my reading is that you will receive new shares in Dole Inc. Existing TP shareholders will receive shares = 82.50% of the combined company. Note: they plan to raise addition capital of up to US 700M. Don't know how this will affect our holdings and no indication if we will be allowed to participate in the funding. Time will tell. Today was another good day for holders.

[eircomnet] 18/2/2021 17:41

Excuse my ignorance but does it mean that you will be left with 82.5% of the shares you own at present?

[badger8888] 18/2/2021 15:14

Another good day, €1.982 just now, have been as high as €2.02.

[badger8888] 17/2/2021 17:09

15.131M traded in Dublin (Euronext) Could be some element of double counting, finished well up.

[badger8888] 17/2/2021 11:42

Even better! Off morning high. Onwards and upwards! Enjoy the ride.

[quepassa] 17/2/2021 11:02

Sorry to be pedantic but average of these four (ignoring their size) is 12.05x

[badger8888] 17/2/2021 10:57

Average p/e of those companies is around 10 , so that would mean a share price of around E2.50+.

[quepassa] 17/2/2021 10:47

Exactly.
that's the point they made on the 9am Conference call.

The Euro2.15 minimum price is based on a 7.6x earnings ratio whereas the US-quoted peer-group trade on much higher multiples:

LambWeston 14.2x
Calavo 13.9x
Mission 11.3x
Del Monte 8.8x

So, if the new US-quoted Dole gets re-rated to a significantly higher valuations multiple, this should drive a (significantly) higher value /price than Euro2.15.

Fabulous deal for shareholders.

I think it is only fair and right that all existing shareholders should be given the right to subscribe for the new equity being raised.

ALL IMO. DYOR.
QP

[badger8888] 17/2/2021 10:08

For comparison purposes, take a look at Mission Produce Inc. listed the US in 2020. Similar to Total however just 1product, Avocado, grow, source & sell. PE much higher than Total so hopefully we can get closer. Avocado is a "premium product"I don't hold Mission, very long term holder of Total.

[badger8888] 17/2/2021 08:55

EURONEXT Dublin price of course!

[badger8888] 17/2/2021 08:54

E1.92 just now. My previous post should have read "well off E2.56"

[badger8888] 17/2/2021 08:50

Nice uplift, I need to have a read. We off all-time high E2.56

[quepassa] 17/2/2021 08:50

Yes. But been trying to buy for last 45 minutes. No quote.

Always been a sleepy share.

Now with a new forthcoming US listing in Q2/Q3 on Wall Street , this will turbo-boost the new share and put it and the combined company into a completely different league.

ALL IMO. DYOR.
QP

[badger8888] 17/2/2021 08:49

Nice uplift. Need to have a read. Well off all-time high E2.56

[babbler] 17/2/2021 08:42

Deal at least £1.86 a share? So, basically cheap right now...

[scepticalinvestor] 17/2/2021 08:39

it was always inevitable...

[quepassa] 17/2/2021 07:38

The combined company, operating under the Dole brand, will be incorporated in Ireland, with its Global Headquarters in Dublin, Ireland, and its Headquarters for the Americas in Charlotte, North Carolina.

[quepassa] 17/2/2021 07:30

-- In addition, the Board of Directors of Total Produce believes that there is significant potential for further value creation, assuming Dole plc's IPO valuation is comparable with relevant industry peers in a U.S. public market context.

[18bt] 17/2/2021 07:26

very complex transaction, but the headlines look good. I hold in a SIPP, so I think I should be able to continue to hold a US listed. I wonder whether there will be some weakness as shareholders who can't hold US shares swap out for those who can. Need to look and see whether the dividend policy is likely to change and work through different holding tax arrangements. Overall, I'd expect a bounce today.

[quepassa] 17/2/2021 07:22

-- The Transaction is expected to create significant value equivalent to at least EUR2.15 per Total Produce share ( a +46% increase on yesterday's closing share price)(1) based on an agreed floor valuation of US$215 million (as a condition set forth in the Agreement) for the 17.5% stake in Dole plc owned by the C&C shareholders on a fully diluted basis immediately prior to the completion of the Transaction 2 .