Irish produce multi-national Fyffes has announced it has acquired a 33.3 per cent stake in German fresh produce distributor Fruchtimport vanWylick.
The deal is subject to German cartel office approval but Fyffes said in a statement it expects the acquisition to enhance its earnings in 2011. VanWylick is a market leader in Germany with annual sales of €200 million. It has a network of banana ripening and distribution centres across the country. The business will continue to be managed by Dirk Allerding, Jens Allerding and Peter Malsbender.
