Total Produce to acquire 50% of Frankort & Koning

Total Produce has agreed to acquire 50% of the leading Dutch fresh produce company Frankort & Koning.

Total Produce will acquire 50% of Frankort Koning & Beheer BV Venlo and subsidiaries for up to 15 million euros. Based in Venlo, the Netherlands, Koning & Frankort operates in the Netherlands, Germany and Poland and had a turnover of €296 million in 2010. The group will continue to be run by the current management team.

Commenting on the transaction, Carl McCann, chairman of Total Produce said: "We are very pleased to become shareholders in Frankort & Koning, this acquisition will strengthen our presence in key European markets."

Theo Koning of Koning & Frankort said: "The team is very pleased to join Total Produce; this represents an important step in the development of our group."

source : total produce, frankort & koning