Total Produce Plc Total Produce acquires 50% of US Produce Company (4580V)
November 03 2017 - 3:00AM
UK Regulatory
TIDMTOT
RNS Number : 4580V
Total Produce Plc
03 November 2017
Total Produce plc
Stock Exchange Announcement
Total Produce acquires 50% of California based "The Fresh
Connection"
Total Produce plc, the leading fresh produce company, is pleased
to announce that it has acquired a 50% equity stake in California
based fresh produce company, The Fresh Connection, LLC. Founded in
1994 and headquartered in Lafayette, California, the company today
is one of North America's premier produce export companies with
2016 sales of c. US$ 165 million.
The Fresh Connection is engaged in the year-round distribution
and export of a wide range of fresh fruits and vegetables to
customers in more than 35 countries. The company serves its
customers from operations in four key production regions.
The company partners with a network of trusted growers
throughout the US, Mexico, South America, South Africa, and
Australia to enable it to provide many varieties of fresh produce,
principally citrus, apples, pears, grapes, berries, cherries, and
stone fruit, to its customers.
Hank Miller will continue as co-shareholder and CEO of the
business and Will Mehrten will continue as President of the
Company.
Commenting on the transaction, Carl McCann, Chairman of Total
Produce said:
"We are delighted to become shareholders in The Fresh
Connection. This transaction further broadens our US presence and
provides us with strategic access to other key markets. We look
forward to working with Hank, Will and the excellent people in The
Fresh Connection as it continues to develop its very successful
business expansion in future years."
Commenting on the transaction, Hank Miller, CEO of The Fresh
Connection said:
"We are proud to partner with the Total Produce Group. This
transaction will further strengthen the business we have developed
and grown over many years. We believe our partnership will create
opportunities for The Fresh Connection which will benefit all
stakeholders, including our growers, suppliers, employees and, of
course, our customers."
3(rd) November 2017
For further information, please contact:
Brian Bell, Wilson Hartnell PR
Tel: +353-1-669 0030
Ivan Murphy, Davy Corporate Finance
Tel: +353-1-679 6363
This information is provided by RNS
The company news service from the London Stock Exchange
END
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