Produce World Ltd has announced the disposal of its interests in British & Brazilian Ltd (B&B) to fruit firm AG Thames Ltd.

AG Thames plans to retain B&B as a separate trading entity within its group structure.

Vegetable specialist Produce World bought B&B in 2006, but has decided the sale of the Yaxley-based fruit company is in all parties’ interests.

Produce World chief executive William Burgess told FPJ: “We have no plans to re-enter the fruit market in the immediate future. This was an opportunistic purchase in 2006 and we had a good relationship with the former owner, so the deal made sense at the time.

“One of Produce World’s strengths is to change and adapt quickly in a changing market, and it is a tough market at the moment. But because of our long-term strength, we are in a good position to come out of the recession well. We invested £7.5 million last year and it means that we have got a very strong balance sheet,” he said.

Leon Aichen, executive chairman at AG Thames, told FPJ: “We are pleased and excited to have acquired B&B. We think it will add an additional range of customers and benefit B&B too.”

Ben Clapham, procurement director at B&B, added: “The main reason for the purchase is a strategic one and it gives us a strong support base. It allows us to add our Waitrose and Co-op customer base to AG Thames’ portfolio.”

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