Total Produce could be worth around €1bn in a takeover scenario rather than the €623m market capitalisation placed on it by its current share price according to current CEO Rory Byrne's estimate.
That would make it more valuable than Fyffes itself, which was sold before Christmas to Japan's Sumitomo for €751m, with a huge 50pc premium put on Fyffes' shares at the time.
Total Produce, which has been building a presence in North America, posted revenue of €3.7bn and total adjusted earnings before interest, tax and amortisation (Ebita) of €45.8m.
"Obviously, if someone decides to make a takeover bid, there is undoubtedly is a takeover premium associated with doing that," he said, but said there was no suitor circling the firm as far as he was aware.
Mr Byrne also said that the company remained on the lookout for acquisitions.
source: independent.ie
