Ireland-based Total Produce has moved to tap into growing domestic demand for whole foods with the acquisition of distribution firm Wholefoods Wholesale.
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Total Produce, spun off and formed earlier this year from the Fyffes fruit business, said today (30 July) that it had bought a controlling stake in Wholefoods.
Total Produce bought a 92% stake in Wholefoods, the leading distributor to independent health food stores in Ireland, for an undisclosed sum.
A spokesman for Total Produce said growing demand for healthier foods in Ireland had prompted the company to move for Wholefoods.
“Wholefoods is quite a sizeable business, with turnover of some EUR18m (US$24.6m). A lot of other companies have invested in the sector and bought independent distributors,” the spokesman told just-food.
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By GlobalDataThe spokesman declined to reveal financial details. He said Total Produce could look to buy the remaining 8% of shares at a later date.
Total Produce is Europe’s largest fresh produce provider with annual sales of around EUR2bn and operations in 13 markets.
