Total Produce acquires stakes in salad producers

Fruit and vegetable distributor Total Produce has completed its acquisition of 60 per cent stakes in two Dutch salad producers.

The company agreed to buy the stakes in Haluco BV and Nedalpac BV in May this year, but the European Commission did not approve the deal until August 11th.

Under the deal, Total Produce handed over an initial payment of €9.5 million, which may rise to as much as €23 million, depending on certain performance targets being met.