The much-rumoured merger of Fyffes with Italian marketers Bocchi has broken down.
The Dublin-based fruit and vegetable supplier said it had ended talks on a possible alliance with the Italians.
Rumours on the deal, which could have created a fresh produce giant with a combined turnover of around €4 billion, had surfaced earlier in the year, although both companies had refused to comment on the subject.
However, in a Regulatory News Service statement, Fyffes said: “No transaction is currently being contemplated. Fyffes intends to continue its strategy to expand its business and to pursue development opportunities in its sector.”
If the deal had gone ahead, the main impact would have been in the German retail sector, where Bocchi is the sole distributor of all fresh produce to Rewe, excluding bananas and domestic fruit and vegetables. It also supplies Metro and Intermarché
Fyffes has spent more than €300 million on purchases since selling shares for the first time in 1981.
