Ireland's Total Produce was granted permission today [Tuesday] to buy a majority stake in two Dutch fresh produce distributors, Haluco and Nedalpac, for around £17 million.
"After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it," the Commission said in a statement.
Total Produce said when it announced the deal in May that it would initially pay €9.5m in cash for a 60 per cent stake in the two companies. An additional consideration of up to €13.5m euros will be paid in 2011 if profit targets are met, it said.
Haluco and Nedalpac, which both have their headquarters in Bleiswijk, supply salad lines including tomatoes to customers across Europe.
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