Subject to antitrust clearances, the deal means Fyffes will become a partner in the business, known as Inter, with the Weichert family. The family still owns the remaining 20 per cent of Inter shares and has developed the company as an importer of bananas, pineapples and other fresh produce in northern and central European markets over the past 50 years.

'We are pleased to become long-term partners of the Weichert family,' said Fyffes chairman Neil McCann. 'We are also pleased that we were able to agree a transaction that was helpful in enabling Del Monte and Inter to achieve their respective goals.' Del Monte issued a statement saying that the sale 'serves several key strategic purposes.' Fresh Del Monte chairman and ceo Mohammed Abu-Ghazaleh said: 'We already have a strong marketing presence in northern Europe, and we expect this transaction to expand our leadership position in various European marekts through direct selling and marketing of our full product line. It also helps Fyffes meet its objectives.' The agreement will also mean Fresh Del Monte can obtain banana import licences.