Fyffes and Uniban in alliance

Uniban SA, the main banana and plantain export company in Colombia and Fyffes plc have entered into a strategic alliance in the United States through a 50/50 ownership in Turbana Corporation, a Florida corporation, the marketing subsidiary of Uniban SA in the United States.

The total consideration paid in cash by Fyffes plc on completion is $6m (€5m).

The relationship between both companies dates back to over 30 years. Turbana Corporation markets in excess of 10 million cases of bananas and plantains in the USA with annual sales close to $100m (€84m).

Turbana Corporation, based in Coral Gables Florida has been in business in the USA and Canada since 1970 selling and marketing bananas, plantains and for about two years pineapples.

Commenting on this strategic alliance, Luis Fernando Arango, President of Uniban, stated:

'We are pleased to further strengthen our close relationship with Fyffes plc through this strategic alliance.'

Commenting on the strategic alliance, David McCann, Chief Executive of Fyffes plc stated:

'We are pleased to have entered into this strategic alliance with Uniban who are Fyffes' largest supplier of bananas. Uniban and ourselves intend to further grow Turbana's pineapple volumes in the United States'.