Global supplier of fresh produce Univeg has completed the acquisition of Stichting Behoud Bananen Sector(SBBS).
The company will have 90%holding,while the Ministry of Agriculture of the Republic of Suriname will own the remaining 10%share.
SBBS,which produces bananas in 2,000ha with a turnover of$65m,will now be operated under the Food and Agriculture Industries(FAI)name.
Republic of Suriname Ministry of Agriculture Hendrik Setrowidjojo said that the Republic of Suriname has as policy to sustain the banana sector for the long term and to safeguard the employment in this sector.
"We are pleased that through the international tender a long term partner such as UNIVEG was selected as an investor and we look forward to a fruitful relationship together,"Setrowidjojo added.
Univeg CEO Francis Kint said that the business reasons for this acquisition are in line with UNIVEG's continued strategy to secure long term sourcing requirements to optimally service its retail customers.
"UNIVEG is aware of its responsibilities towards the local communities and believes in the huge potential of FAI as a leader in sustainable agricultural practices and positive social impact,"Kint added.
