Total Produce expands in Canada

Total Produce has made its first acquisition in North America, acquiring 65% of Grandview Ventures for € 32 million.

Grandview Ventures operates under the name Oppenheimer Group. This acquisition is in 2 steps. First, 35% of shares in January 2013 for € 11.7 million and if the company meets objectives for profitability, the remaining 30% in 2017.

Oppenheimer Group is a supplier of fruits and fresh produce to retailers and wholesalers in the United States and Canada. Its turnover in 2011 reached 525 million Canadian dollars (€410 million).

This first acquisition in North America, allows Total Produce to enter the North American market and underlines its commitment to expansion in the region.

source : irish times, total produce