IRISH FRUIT SUPPLIER Total Produce has made its fourth purchase in North America as it continues its march across the continent.
The Dundalk-based company announced it was taking a 50% share in the Canadian Gambles Group, which sells fruit and vegetables under the Go Fresh and Snoboy brands.
Total Produce, which was spun out of from fruit supplier Fyffes in 2006 and is now Ireland’s biggest fresh-produce supplier, did not reveal how much the deal was worth but last year Gambles recorded sales of CAD$170 million (€119 million).
In a briefing note, Davy’s Declan Morrissey said the deal looked like a “good strategic fit” as the company was now set up on both the Canadian east and west coasts.
Total Produce previously took a stake in the Vancouver-based Oppenheimer Group, while Gambles has its base in Toronto.
Company chairman Carl McCann said the deal would further broaden the firm’s North American operations.
It already owns a minority stake in the California-based Eco Farms, as well as operations in the UK, Netherlands and India.
Last financial year it turned over €3.175 billion worldwide in sales.
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