Irish fruit distributor Total Produce remains on the lookout for more acquisitions on the back of stronger-than-expected annual earnings.

The Irish food industry continues to provide a variety of dynamic and progressive examples of entrepreneurship and business development. 

Asahi will buy a group of eastern European beer brands from Anheuser-Busch InBev for €7.3bn, boosting its presence in the region in the largest overseas beer deal by a Japanese brewer.

Irish-based banana and fruit distribution company, Fyffes, has received a takeover offer from a Japanese trading company, Sumitomo Corporation.

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Stock markets investors should avoid Europe-wide shares for the time being, Merion Capital has warned, though a very small handful of Irish companies, including Fyffes and Irish Residential Properties REIT, may offer some shelter from further storms ahead.

Last week we hosted an Investor Day to showcase 9th Irish Food and Agri-companies to existing and potential shareholders.

Fruit distributor Total Produce has raised its earnings target for this year and has said it is actively hunting more acquisitions.

The debate over whether the UK will exit the EU has switched dramatically to the potential gains for some Irish shareholders and most Irish exporters should the so-called ‘Bremain’ side win the looming UK vote on EU membership on June 23.

Port of Cork has scored a major coup in landing a potentially lucrative spot on the first direct freight shipping service from northern Europe to Cuba since economic sanctions were removed on the Caribbean country.

Investors in the Irish stock market should favour Irish firms that have less exposure to the UK — until the outcome of the British referendum on membership of the EU is known, Merrion Capital has said in a major report.

Fruit distributor Fyffes has diversified its product offering with the €98m acquisition of Highline Produce, the largest mushroom producer in Canada.

Shares in Dublin-based fruit distribution company Total Produce rose by nearly 3% yesterday on the back of a strong set of annual figures and the company targeting strong earnings growth for this year.

Total Produce has pushed its potential revenue contribution from North America up to around $1bn (€916,000) on foot of a new acquisition.

Fyffes has announced the closure of its Irish defined benefit pension scheme; a move set to boost its annual operating profits by €1m.

Dublin-based international fruit distribution business, Total Produce has reported an 8.2% year-on-year rise in revenue for the first half of the year, to €1.43bn.

Fyffes’s share price jumped over 10% yesterday, after the Dublin-headquartered international fruit distribution giant increased its full-year earnings guidance for 2015 by over 20%.

Total Produce positive as revenue and pre-tax profits dip

Dublin-based fruit and vegetable distributor, Total Produce, has enhanced its North American footprint by acquiring a 50% share in Canadian fresh produce company, Gambles Group.

Chiquita shareholders got yellow and chose green.

Brazilian juice maker Grupo Cutrale and investment firm Safra Group yesterday agreed to acquire US-based banana producer Chiquita Brands International, in a deal worth $1.3bn (€1.02bn).

Fyffes’ management has vowed the Dublin company will remain at the forefront of the global produce industry, despite its proposed $1bn (€789m) merger with US banana rival, Chiquita Brands, collapsing.

A deal to create the world’s largest banana company has collapsed after shareholders of US firm Chiquita rejected a merger with Fyffes.

Brazil’s Cutrale Group and Safra Group again increased their unsolicited joint bid to buy banana producer Chiquita Brands International in an offer worth about $686m (€542m).

Fyffes’s proposed merger with US fruit producer, Chiquita Brands is looking more realistic after the latter rejected an improved takeover offer from Brazilian consortium, Cutrale- Safra.

Fyffes has responded to an increased rival bid for US banana producer Chiquita by saying its merger proposals remain the superior offer for shareholders.

Brazilian bidder Cutrale-Safra has submitted an improved bid for US banana producer Chiquita Brands.

“At Dundalk we keep our heads high.”

The European Commission has cleared the proposed merger between Fyffes and its US banana rival, Chiquita Brands — removing any regulatory barriers to a deal being concluded before the end of the year.

Irish banana producer Fyffes yesterday announced it had agreed to a new merger proposal with Chiquita which would see it receive a smaller share of the newly-combined company.

Irish banana company Fyffes has agreed to revised terms of its merger with Chiquita - in a bid to make the deal more attractive to shareholders.

Chiquita and Fyffes have submitted remedies to the European Union to deal with the likely impact that their proposed merger will have on competition.

Fyffes has granted its proposed merger partner Chiquita permission to talk to rival bidder, Cutrale-Safra.

The proposed merger of Fyffes and US rival, Chiquita has been thrown into further doubt, with two more investor advisory firms urging the American firm to adjourn an upcoming shareholder vote and engage in discussions with a rival bidder.

The world’s leading investor advisory firm, Institutional Shareholder Services, has called for a postponement of a shareholder meeting aimed at approving the merger of Dublin-based banana distributor Fyffes and its US rival, Chiquita.