‘Compelling’ €751m offer for Fyffes marks end of era in Irish stock market history

A €751.3m proposed “compelling” acquisition of Irish-based international fresh produce distributor Fyffes marks something of an end of era in Irish stock market history, as the famous brand comes under Japanese control.

The good news for shareholders is the €2.23 a share cash offer by Asian giant Sumitomo Corporation — which although not a household name here is a dominant banana supplier in Japan — represents a hefty premium of almost 50% on the recent trading levels.

Fyffes’ shares had risen in recent weeks, despite the potential for disruption to the business from the Brexit fallout.