UK fresh prepared foods and produce company Geest has announced the sale of its shares in Enzafruit Worldwide Ltd (Worldwide Fruit) to one of its other joint venture partners, Northcourt.
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Worldwide Fruit was formed by Geest and New Zealand’s Enza in October 1999 to market fruit and other imported produce in the UK. Subsequently, in October 2000, UK apple growers Northcourt Group, entered the venture reducing Geest’s interest to 40%.
Worldwide Fruit will now be managed by two seasonally complementary grower organisations. The net assets sold are valued at £0.7m (US$1.18m), resulting in a book profit, Geest said.
