Greenyard To Acquire Remaining Stake In Fresh Direct Belgium
Belgian fresh produce company Greenyard has announced that it reached an agreement to acquire 100% of Greenyard Fresh Direct Belgium.
The company will take over the remaining 49% stake in the business from Ben De Pelsmaeker, managing director and co‐shareholder of Greenyard Fresh Direct Belgium.
De Pelsmaeker will continue to lead Greenyard Fresh Direct Belgium, and through this transaction he will become a shareholder of Greenyard at €19.68 per share.
Greenyard says that this deal is in line with the group's operational strategy, and will allow for future growth at Fresh Direct in Belgium, which has been integrated within Greenyard's Fresh operations since its relocation at the end of 2016.
The group was previously linked to a merger with Dole Food Company, however, Irish firm Total Produce acquired a 45% stake in Dole in a $300 million deal earlier this year.
Greenyard posted sales of €995.6 million in the third quarter of its financial year, representing a stable performance year on year.
The fresh produce company is set to release its full-year results on 5 June.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.