Fruit and vegetable distributor Total Produce has invested an undisclosed sum in logistics business Flancare (Clonmel) Distribution in a deal that is expected to save 200 jobs in Clonmel and Longford.
Total Produce announced yesterday that it has taken a 50 per cent stake in a new company which has bought the trade and certain assets of Flancare (Clonmel) Distribution Ltd.
It is understood that one of the current owners of Flancare, together with management, hold the remaining 50 per cent stake.
Late last month Declan McDonald of PricewaterhouseCoopers was appointed to the firm as provisional liquidator.
The new company is operating from the Clonmel premises which was previously occupied by Flancare, as well as from the logistic’s firm’s Longford plant.
“We expect that this transaction will secure employment for 200 people as well as ensuring the continued provision of high levels of service to customers,” Total Produce said in a statement.
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