Total Produce closed the 2016 financial year with an adjusted gross profit totalling 67.7 million Euro, 16.8 percent more than in the previous year. "We are pleased that Total Produce achieved strong growth in 2016," stated Carl McCann commenting the results. The company's turnover was also higher and increased by 8.9% to 3.76 billion Euro.
Last year, the company spent 60 million Euro on acquisitions, including 17 million in contingent consideration. Total Produce acquired 65% of the shares of Progressive Produce, a company in Los Angeles generating $ 200 million in turnover. Investments were also made in several other companies.
This year, the company has already agreed to increase its share in the Oppenheimer Group with an investment of 28 million Euro. This brings the total share of Total Produce under the group to 65%. The American company signed a strategic agreement in North America with New Zealand’s T&G.
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