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11 May 2009 12:49
Stock Exchange Announcement
Fyffes acquires Panamanian pineapple plantation
Fyffes plc is pleased to announce that it has acquired a pineapple plantation and related production assets from Agroindustries Golden West SA ("GOPA") in Panama. This operation comprises c.450 hectares. Combined with its existing pineapple farms in Costa Rica, Fyffes expects to be the direct producer of approximately 50% of the pineapples it markets in 2010. The total cost of this transaction is expected to amount to US$8m, including debt acquired and deferred consideration payments.
David McCann, Fyffes' Chairman, said:
"This acquisition is an important step in increasing and securing the supply and quality of our Fyffes Gold pineapples. The further integration of production, shipping and marketing is a positive development for Fyffes and its customers."
Fyffes plc
11 May 2009
For further information, please contact:
Brian Bell, Wilson Hartnell PR - Tel: +353-1-669-0030
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