Total Produce increases US presence with 50% stake in Californian firm

Total Produce, which has been busy increasing its presence in North America, has acquired a 50 per cent stake in California company The Fresh Connection.

Founded in 1994 and headquartered in Lafayette, the company exports fruits and vegetables to customers in more than 35 countries. It had sales of €165 million last year.

No financial details of the deal have been disclosed.

“This transaction further broadens our US presence and provides us with strategic access to other key markets,” said Total Produce chief executive Carl McCann.

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The food distributor, which spun out of Fyffes in 2007, has been on the acquisition trail of late, particular in North America. In March the company announced it had upped its stake in the Canadian firm Grandview Ventures to 65 per cent.

Last year it also acquired a 65 per cent share in Los Angeles-based Progressive Produce.