Univeg has taken a 90% stake in banana grower SBBS as it looks to “secure” its long-tern sourcing requirements.

SBBS will operate under the name Food and Agriculture Industries (FNI). It operates 2,000 hectares of banana production in Surinam with a turnover of US$65m.

The business was previously controlled by the Republic of Suriname, which will retain the remaining 10% of shares.

Francis Kint, CEO of Univeg, said the acquisition was “in line with Univeg’s continued strategy to secure long term sourcing requirements to optimally service its retail customers”.

Financial details were not disclosed.

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