Sumitomo Deal To Acquire Fyffes To Be Completed Today

By Steve Wynne-Jones
Share this article
Sumitomo Deal To Acquire Fyffes To Be Completed Today

Japan’s Sumitomo Corporation is to take full control of Fyffes today, 16 February, following the completion of the courts process at 11am Irish time.

The move will see Fyffes become a wholly owned subsidiary of the Japanese company, ‘[and] completes the competition clearances required for the transaction to complete,’ according to a Fyffes statement.

Last month, an EGM of Fyffes shareholders gave their approval to the deal, which is valued at €751 million.

The EGM was, however, picketed by a number of unions, which have accused the banana giant of unfair trading practices in many of its production countries.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.