Greenyard has reached an agreement to acquire the remaining shares in its Fresh Direct operation in Belgium.
Listed on the Euronext exchange in Brussels, Greenyard said today (3 April) that it is buying the 49% share in Greenyard Fresh Direct Belgium from managing director Ben De Pelsmaeker, a company that was formerly known as Ben Fresh.
Under the agreement, Pelsmaeker will become a shareholder of Greenyard at EUR19.68 (US$24.20) a share but will continue to head-up Greenyard Fresh Direct Belgium.
In a statement, Greenyard said the Fresh Direct operation in Belgium has potential for future growth and has been integrated within Greenyard’s Fresh operations since its relocation at the end of 2016.
Back in January, the Belgium-based fruit and vegetable company said talks to acquire Dole Food Co. had ended without a “definitive agreement”. In 2015, when what was then Greenyard Foods took its current form through the merger of Univeg and Peatinvest, the new entity stated its intention to create a “global leader in fruit and vegetables”.