Staay Food Group has announced in a press release that it has acquired a majority interest in Hispa Fruit BV, with the former taking on some 70 per cent of shares in the group, while the remaining 30 per cent will continue to be held by Hispa Fruit CEO Miguel Gonzalez.
In addition, Staay revealed that it has acquired the stake that the Hispa Group has in Agricola Agromonte SA, a pineapple farm of some 2,500ha in Costa Rica, which will be incorporated into Hispa Fruit.
'Both Hispa and Staay will be operating entirely independently of one another and will retain their own identities,' a group statement read. 'They will be cooperating in terms of cultivation and sourcing, however.'
The takeover of the pineapple farm in Costa Rica means that the two groups' other companies boast cultivation projects in the Netherlands, Spain, Costa Rica, Argentina, Peru, Israel and Egypt.
The agreement, which requires the approval of the Dutch Competition Authority, would see the overall turnover of the Staay Group climb above the €475m mark.
