Colombian banana and plantain export company Uniban and Irish-based fresh produce company Fyffes have entered into a strategic alliance in the United States through a 50/50 ownership in Turbana Corporation, a Florida-based marketing subsidiary of Uniban in the United States.
The total consideration paid in cash by Fyffes on completion is US$6m. Turbana markets in excess of ten million cases of bananas and plantains in the US with annual sales close to US$100m.
“We are pleased to have entered into this strategic alliance with Uniban who are Fyffes’ largest supplier of bananas. Uniban and ourselves intend to further grow Turbana’s pineapple volumes in the United States,” said Fyffes’ chief executive, David McCann.