European fresh produce firm Total Produce has acquired a 50% stake in Canada’s Gambles Group in a move the company said “further broadens” its presence in North America.
“We are very pleased to become shareholders in the Gambles Group. This transaction further broadens our North American operations. We look forward to working with the excellent people in Gambles over the coming years,” Carl McCann, chairman of Total Produce, said.
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The deal, announced this morning (3 February), is Total Produce’s fourth North American investment. Most recently, the Irish company took a 45% stake in avocado supplier Eco Farms.
Financial details of the transaction were not disclosed. In 2014, Gambles generated sales of C$170m (US$134.8m).
