Total Produce has announced its second North American acquisition in 2017 (third deal including its increased stake in Oppenheimer) with the acquisition of a 50% stake in The Fresh Connection. The deal provides further momentum to the build-out of the group’s growth platform in the buoyant North American fresh produce market and adds c.US$165m of sales to the revenue base (consolidated). We estimate that the acquisition will add c.3% to our group FY2018 EBITA forecasts and will be both earnings and value accretive.
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