DCC has agreed to take full control of Allied Foods Ltd for €14.5 million, expanding in chilled and frozen food distribution market in Ireland.
DCC has owned 50 per cent of the voting share capital and 51.5 per cent of the total share capital of Allied Foods' holding company, Millais Investments Limited, since 1998.
Allied Foods, with operations based in Dublin and Cork, is generating operating profits of approximately €3.5 million a year, DCC said.
The purchase is subject to the clearance of the Competition Authority.
Seperately, DCC said its application to the High Court to expedite the hearing of the legal action against DCC and others initiated by Fyffes in Jan 2002 is scheduled to be heard on December 2nd.
