Total Produce sticking to full year earnings targets

Wednesday 22 May 2013 18.41
Total Produce continues to look for ''attractive acquisition opportunities''
Total Produce continues to look for ''attractive acquisition opportunities''

Fresh produce company Total Produce has said it is sticking to its earnings target of 8 to 8.8 cent per share for this year.

In a statement this morning, the company said that since the end of the year, it has agreed a deal to buy a 65% stake in the Oppenheimer Group, in two stages over five years.

The Oppenheimer Group sells fresh produce throughout the US and Canada with last reported sales of €410m. It operates from 13 locations in the US and Canada.

The company also completed the sale of its 25.3% shareholding in Capespan Group Limited to Zeder Financial Services Limited for €22m in April.

''Total Produce continues to pursue attractive acquisition opportunities to further expand the group,'' the statement concluded.