Total Produce has become a 50 per cent shareholder in a newly formed logistics company.
Thenew company has acquired the trade and certain assets of Flancare (Clonmel) Distribution Limited, which went into liquidation last week. Flancare recorded a loss of €636,000 in 2011.
The other 50 per cent of the new company, which is yet to be named, is owned by former Flancare management, said Total Produce spokesman Brian Bell. The amountTotal Produce paid has not been disclosed.
Total Produce was a former customer of Flancare’s logisitics business. The new company is operating from the substantial purpose-built premises previously occupied by Flancare using a modern fleet of vehicles and sophisticated computer and handling systems.
”We expect that this transaction will secure employment for 200 people as well as ensuring the continued provision of high levels of service to customers,” added Bell.
