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 signatories delivered a joint letter yesterday evening to the EC advising it to establish a “transparent, ambitious, and circular ‘chain of custody’” method instead.
Funded with US$15 million, the competition took off last July, prompting “suppliers, designers and problem-solvers” to submit environmentally sustainable design solutions and standard plastic bag alternatives.
Carlsberg Marston’s Brewing Company has partnered with Encirc to trial a glass beer bottle that has the potential to cut the carbon impact of its bottles by up to 90%.