Di Giorgio agreed to sell its citrus unit for $31.3 million.
A private investor from Texas will purchase the firm’s TreeSweet Products Co. of Santa Ana for $31.3 million. Di Giorgio said it will receive $1.3 million in cash and a note for the rest. It estimated that the transaction will result in an after-tax loss of about $2.9 million, or 48 cents per common share. The deal is part of a major restructuring the company undertook in 1984, according to Chairman Peter Scott.
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