Fyffes has received a takeover offer by Sumitomo Corporation. The Irish based banana and fruit distribution company was made an offer by the Japanese leading trading company for €751 million.
Swordus Ireland Holding, a wholly-owned subsidiary of Sumitomo, would acquire the entire share capital of Fyffes at a price of €2.23 per share. The price represents a 49% premium to Fyffes’ closing share price of €1.50 on Thursday, reports Ft.com.
Fyffes is the number one importer of bananas and the leading marketer of organic & Fairtrade bananas to Europe. The fruit distributor is also amongst the largest global marketer for Supersweet pineapples and winter season melons. They have recently branched into the mushroom market.
© 2016 - Checkout Magazine by Donna Ahern