FDBusiness.com

Total Produce Acquires 50% of Leading Dutch Fresh Produce Company

 Breaking News
  • Fazer Becomes Market Leader in Gluten-free Bakery Products Fazer Group is continuing to execute its growth strategy and invest in growing product categories by acquiring Vuohelan Herkku’s bakery and mill businesses. Vuohelan Herkku is one of the forerunners...
  • C&C Group Chief Retires C&C Group, the Irish and British drinks business, has announced that Stephen Glancey has stepped down as CEO and will leave the company at the end of February. Stephen Glancey...
  • KK Foods Plans £5.5 Million Expansion KK Fine Foods, a leading frozen food manufacturer based at Deeside in Wales, is set to expand and diversify with support from the Welsh Government, creating an additional 40 new...
  • Nestlé Launches Fund to Boost Packaging Innovation Nestlé has announced that it will invest up to SFr2 billion (€1.86 billion) to lead the shift from virgin plastics to food-grade recycled plastics and to accelerate the development of...
  • Bosch Packaging Technology is Now Syntegon Syntegon Technology is the new name for Bosch Packaging Technology, following the sale of the former Bosch division. Headquartered in Waiblingen, Germany, Syntegon Technology’s business focus is on intelligent and...

Total Produce Acquires 50% of Leading Dutch Fresh Produce Company

Total Produce Acquires 50% of Leading Dutch Fresh Produce Company
December 21
10:36 2011

Total Produce plc, Europe’s leading fresh produce company, is to acquire 50% of Frankort & Koning Beheer Venlo and subsidiaries for up to Eur15 million. Headquartered inVenlo, the Netherlands, Frankort & Koning is a fresh produce company with operations principally in the Netherlands, Germany and Poland. Frankort & Koning recorded a turnover of Eur296 million in the year ended 31st December 2010 and realised average profits after tax and minorities of Eur2.7 million over the last three financial years. It will have net assets of approximately Eur5.5 million at completion.

 

The transaction is subject to the normal regulatory clearances. The group will continue to be managed by the existing management team, each of whom has entered into a long term service agreement as part of the transaction. “This acquisition adds to our presence in key European markets,” says Carl McCann, chairman of Total Produce.

 

Total Produce plc was created in January 2007 following the demerger of Fyffes. It has annualised sales of more than Eur2.6 billion.

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

[eventlist]

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements