On June 2, 1851, Samuel Northrup Castle and Amos Starr Cooke began their humble business partnership by operating a general store. The entrepreneurial spirit and vision of the two founders of this company sparked the creation of a worldwide leader in the food, transportation and real estate industries.
To understand Castle & Cooke today, one needs to chronicle the business career and philosophy of its owner, David H. Murdock. A self-made man, he spent his formative years in the Midwest and commenced his business career as a builder in Arizona. Taking advantage of the post-war housing boom in Phoenix, he progressed from single-family residential to high-rise commercial real estate development and ownership and related services. When the Arizona real estate market collapsed in the sixties, he moved to California.
Headquartered in Los Angeles since 1968, Mr. Murdock's businesses and investments have continually grown and prospered. Mr. Murdock, a creative thinker and innovative leader, is the first to credit his team for the success the company enjoys today. While still a builder of significant size, the company's major growth can be attributed to the acquisition of publicly traded companies. The Murdock team has acquired many private companies and taken numerous publicly traded companies private, including FCA Industries, Pacific Holding Corporation, International Mining Corporation, Pato Consolidated Mining, Cannon Mills, Continental Group, Flexi-Van Leasing, Castle & Cooke, and Dole Food Company.
Mr. Murdock's approach is to acquire undervalued assets, often in ordinary industries, retain knowledgeable management and find creative ways to operate and utilize assets more effectively.
He often uses the expression, "The impossible just takes a little longer." The diversified group of companies operates autonomously, under specified guidelines, and management is encouraged to be entrepreneurial. His work ethic, integrity, curiosity, energy, belief in quality and desire to grow and improve, set the example for all to follow. Mr. Murdock and his management team at Castle & Cooke continue to focus on growth and are constantly searching for opportunities to acquire quality assets or businesses to meet this important goal.
The companies and projects shown on the following pages are a sampling of the Castle & Cooke portfolio and attest to the efforts, dedication and ingenuity of a management team and thousands of hard-working employees who actively manage, operate and enhance the value of the company daily.