DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Fresh Produce

Fyffes Receives €180m From Sumimoto For Debt Reduction: Reports

By Dayeeta Das
Share this article
Fyffes Receives €180m From Sumimoto For Debt Reduction: Reports

Banana supplier Fyffes received around €180 million from parent company Sumimoto Corporation to reduce debts, according to media reports.

Japan’s Sumitomo Corporation acquired Fyffes in 2017 for €751 million.

Fyffes is one of the world’s largest fruit companies and one of Europe’s leading banana suppliers.

The funds will be used to offload parental borrowings and lower Fyffes' overall debts, the report said.

Its total debt increased by about €100 million in 2018 from €185 million a year earlier.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.

ADVERTISEMENT
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.