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Fresh Produce

Fyffes Offered €751 Million By Japan's Sumitomo

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

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