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
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
