Fyffes acquires remaining 50% of fresh produce firm Lembcke
Fruit distribution company Fyffes has acquired the remaining 50% of Danish fresh produce company Lembcke for €16.8m.
Fyffes has also acquired 100% of Interbanan and 100% of Valby for €6m.
Lembcke will continue to be managed by Lars Lembcke, Jens Lembcke and Niels Klem Thomsen. Ole Lembcke will be retiring as chairman of the board of Lembcke and will be replaced by Rory Byrne.
Fyffes boss Carl McCann said: “We are very pleased to have acquired the remaining 50% of Lembcke, having made our initial investment in 1993. We look forward to the continuing of our long relationship with the Lembcke family.”
Lembcke is one of Denmark’s leading fruit and vegetable distribution companies. Founded in 1923, Lembcke supplies the multiple retail and wholesale sectors in Denmark. Headquartered in Copenhagen, the group employs more than 245 people.
In 2005, Lembcke recorded before-tax profit of €5.8m in the financial year to December 31. Gross assets amounted to €42.3m and shareholders’ funds were €22m at that date.
