Total Produce Buys Two Firms
Ireland-based Total Produce, which distributes fresh fruit and vegetables from some 90 locations across the globe, has acquired 60 per cent of Dutch salad producers Haluco and Nedalpac. The firms were bought in a deal that could be worth up to euro23m (Pounds 18m) – the initial cash consideration is euro9.5m (Pounds 7.5m). payable on completion, and an additional consideration of no more than euro13.5m (Pounds 10.6m) becomes payable in 2011 if certain profit targets are met by the firms over the threeyear period to the end of 2010.
The companies, based in Bleiswijk, the Netherlands, mainly specialise in tomatoes, capsicums and cucumbers and employ some 400 people between them.
Total Produce chairman Carl McCann said: “This [deal] will further enhance our spread of business and our product offering for our customers.”
Copyright Haymarket Business Publications Ltd. Jun 5, 2008
(c) 2008 Horticulture Week. Provided by ProQuest Information and Learning. All rights Reserved.