Fyffes share placing raises €47m
Move aimed at providing funds for further deals
Fruit and vegetable importer Fyffes has raised around €47m through a placing of almost 31.5 million shares at a price of €1.50 per share. The new shares represent around 10 per cent of the company's ordinary share capital.
Fyffes announced the placing yesterday evening, saying the proceeds would be used to maintain the strength of its balance sheet and provide funds for further acquisitions.
Earlier this month, Fyffes announced the acquisition ofCanadian mushroom business All Seasons for €41m. In April, the company had bought Canada's largest mushroom businessHighline Produce for €98m.
Yesterday, Fyffes said it continued to have a strong pipeline of further attractive acquisition and investment opportunities.
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