News comes as Total Produce announces €34.4 million 2011 profits
Ireland: Total Produce cleared to purchase Frankort and Koning
Total produce announced that they had entered into an agreemtn with a view to acquiring the company for the sum of €15m, back in December last year.
Though Frankort and Koning is based in Venlo, The Netherlands, they have operations in Germany and Poland also.
The news comes as Total Produce reports a pre-tax profit for 2011, of €34.4 million, up 2.3% on 2010.
Revenue for the year fell 2.8 per cent to €2.53 billion while its earnings per share rose 5.8 per cent to 7.24 cent per share.
The company is reported to be happy with the results, saying that they were achieved at a challenging time, due to the prolonged impact of the E.coli scare last year.
The group proposed an increase of 8.6 per cent in its final dividend to 1.35 cent per share, bringing the full year dividend for 2011 to 1.89 cent per share, representing an increase of 6 per cent on 2010.
Source: www.irishtimes.com; www.irishexaminer.com
