Total Produce confirms 2013 target

Total Produce plc

Stock Exchange Announcement

Total Produce plc confirms 2013 target

Total Produce plc, Europe's leading fresh produce company, is pleased to confirm that its previously announced target adjusted earnings per share in the range of 8.00 cent to 8.80 cent remains unchanged. 

Since the year end, the group concluded an agreement to acquire a 65% shareholding in the Oppenheimer Group, in two stages over five years. The acquisition of a 35% shareholding was completed in January 2013 for an initial cash payment of €11.4 million. Oppenheimer is a leading provider of fresh produce throughout the USA and Canada with last reported sales of €410 million. It operates from 13 locations throughout the USA and Canada.

In addition in April 2013, the Group completed the sale of its 25.3% shareholding in Capespan Group Limited to Zeder Financial Services Limited for a cash consideration of €22 million.

Total Produce continues to pursue attractive acquisition opportunities to further expand the Group.

22 May 2013

For further information, please contact:

Brian Bell, Wilson Hartnell PR

Tel: +353-1-669 0030

Ivan Murphy, Davy Corporate Finance

Tel: +353-1-679 6363

Any forward-looking statements made in this press release have been made in good faith based on the information available as of the date of the press release and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in this press release, and the company undertakes no obligation to update any such statements whether as a result of new information, future events, or otherwise. Total Produce's Annual Report contains and identifies important factors that could cause these developments or the company's actual results to differ materially from those expressed or implied in these forward-looking statements.