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Total Produce completes EUR15m Dutch acquisition

13th Mar 2012 07:00

RNS Number : 2027Z
Total Produce Plc
13 March 2012
 



 

 Total Produce plc

 

Stock Exchange Announcement

 

Total Produce completes €15m Dutch acquisition

 

 

 

Total Produce plc, Europe's leading fresh produce company, announces that it has completed its acquisition of 50% of Frankort & Koning Beheer Venlo B.V. ("Frankort & Koning") and subsidiaries.

 

Total Produce announced, on 20 December 2011, that it had entered an agreement to acquire the shareholding in Frankort & Koning for up to €15m, comprising an initial cash consideration of €6 million along with additional consideration payable over the next number of years if certain profit targets are met. On 5 March 2012, Total Produce announced that it had received regulatory clearance for the acquisition.

 

The acquisition, with turnover of €296 million in the year ended 31 December 2010, adds to the group's presence in key European markets.

 

 

Total Produce plc

 

13 March 2012

 

 

 

 

 

 

For further information, please contact:

 

 

Ivan Murphy, Davy Corporate Finance

Tel: +353-1-679 6363

 

 

Brian Bell, Wilson Hartnell PR

Tel: +353-1-669 0030

 

 

 

.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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