Total Produce confirms target

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Carl Collen

BY CARL COLLEN

Total Produce confirms target

Groups says it remains unchanged on its adjusted earnings per share target of €0.080-€0.088

Total Produce confirms target

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Total Produce, one of Europe's leading fresh produce companies, has confirmed today (22 May) that its previously announced target adjusted earnings per share, in the range of €0.080-€0.088, remains unchanged.

In the target announcement, the group outlined the fact that since the end of the previous year, it had concluded an agreement to acquire a 65 per cent sharehoding in North American marketer the Oppenheimer Group, in two stages over five years.

The acquisition of a 35 per cent shareholding in Oppenheimer was made in January 2013 for an initial cash payment of €11.4m.

In addition, the group completed the sale of its 25.3 per cent share in Capespan Group Limited to Zeder Financial Services in April, for a cash consideration of €22m.

"Total Produce continues to pursue attractive acquisition opportunities to further expand the group," a group statement read.

 

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