Fyffes has purchased a second large Canadian mushroom business, All Seasons Mushrooms Inc.
Fyffes has paid CAD$59.1m (€41m) to acquire 100% of the equity in All Seasons and refinance its debt. Fyffes is funding this acquisition through existing bank debt.
Fyffes entered the Canadian mushroom industry in April through the acquisition of Highline Produce Limited.
All Seasons, which is based in British Columbia, is one of the largest mushroom producers in Western Canada. It is a fully integrated producer operating from four facilities, of which three are owned and one is leased.
Its geographic reach will be highly complementary to that of Highline Produce.
The current CEO of All Seasons, Frank Moscone, will remain in the business post acquisition.