Irish fruit importer Fyffes has completed the agreement to acquire Swedish fruit firm Everfresh in a three year deal, first announced last month.
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Fyffes has acquired 60% of Everfresh for an initial consideration of SKr262.5m (US$34.6mm) with the acquisition of the balance of 40% to be completed in 2007.
The total consideration payable for the entire shareholding will be 6.25 times the average consolidated audited net profit before taxation and goodwill achieved by Everfresh during the three years ending 31 December 2006, subject to a maximum of SKr710m. The minimum consideration will be SKr262.5m payable on completion.
