Fyffes in $30m deal with Del Monte

EUROPE’S largest fresh produce company, Fyffes, is to pay $30 million for 80% of the Hamburg-based Internationale Fruchtimport Gesellschaft Weichert & Co (INTER) from Del Monte Fresh Produce.

The transaction is subject to certain conditions, principally antitrust clearances. The remaining 20% of INTER not included in the sale is owned by the Weichert family, who have managed and developed the business for over 50 years.

Fyffes chairman Neil McCann said: “We are pleased to become long-term partners of the Weichert family, whom we have known and held in high regard for many years. We are also pleased that we were able to agree a transaction that was helpful in enabling Del Monte and INTER to achieve their respective goals. This acquisition is an important further step for Fyffes in developing its business.”