Sector News

Fyffes acquires Highline Produce for €97.7 million

April 1, 2016
Food & Drink

Fyffes has acquired Canadian mushroom producer Highline Produce for CAD$145 million (€97.7 million).

The fruit importer will acquire 100 per cent of the equity in Highline and refinance its existing debt.

Fyffes is funding the purchase through new and existing bank debt. The fruit company’s shares were up 6 per cent in Dublin trading, following the news.

Fyffes saw earnings before interest, tax and write-offs rise 14.2 per cent to €45.8 million last year. Total revenue, including the group’s share of its joint ventures, amounted to €1.22 billion in 2015, an increase of 12.1 per cent.

By Pamela Newenham

Source: Irish Times

Related News

May 2, 2021

Kraft Heinz beats expectations as consumers continue to dine at home

Food & Drink

The owner of Philadelphia cream cheese and Heinz Ketchup had predicted flat-to-positive organic net sales growth, but today it reported 2.5% organic growth for the quarter.

May 2, 2021

Olam Food Ingredients buys US spice producer Olde Thompson

Food & Drink

The deal will see OFI’s wholly-owned subsidiary, Olam Holdings, acquire the US spice group from private equity firm Kainos Capital and Olde Thompson’s management shareholders.

May 1, 2021

Nestlé to buy The Bountiful Company’s core supplement brands

Food & Drink

Nestlé has agreed to acquire core vitamin and supplement brands of The Bountiful Company from investment firm KKR for $5.75 billion, as it looks to expand its health and nutrition portfolio.

Send this to a friend