Ireland-based Total Produce has bought a majority stake in two Dutch salad firms in a deal that could reach EUR23m (US$36.2m).
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The company has snapped up a 60% stake in Haluco and Nedalpac, two companies that sell tomatoes, capiscums and cucumbers across Europe.
Total Produce is to pay EUR9.5m up-front; the company will pay a further EUR13.5m if Haluco and Nedalpac meet profit targets between now and 2011.
Chairman Carl McCann said: “This will further enhance our spread of business, and our product offering for our customers.”
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