M&A Deal Summary

Sumitomo Acquires Fyffes

On December 9, 2016, Sumitomo acquired distribution company Fyffes for 751M EUR

Acquisition Highlights
  • This is Sumitomo’s 2nd transaction in the Distribution sector.
  • This is Sumitomo’s largest (disclosed) transaction.
  • This is Sumitomo’s 1st transaction in Ireland.

M&A Deal Summary
Date 2016-12-09
Target Fyffes
Sector Distribution
Buyer(s) Sumitomo
Deal Type Add-on Acquisition
Deal Value 751M EUR

Target

Fyffes

Dublin, Ireland
Fyffes is an importer and distributor of tropical produce. Company primary activities are the production, procurement, shipping, ripening, distribution, and marketing of bananas, pineapples, and melons. Fyffes is based in Dublin, Ireland.

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Buyer(S) 1

Buyer

Sumitomo

Tokyo, Japan
Category Company
Founded 1919
Sector Distribution
Employees74,920
Revenue 5.50T JPY (2022)
DESCRIPTION

Sumitomo is a global network and based on trust from companies in various industries and from consumers, Sumitomo Corporation engages in multifaceted business activities by making the most of its Integrated Corporate Strength. These business activities include sales of a variety of products and services within Japan, import and export, trilateral trade, and domestic and international business investment. Sumitomo was founded in 1919 and is based in Tokyo, Japan.

DEAL STATS #
Overall 17 of 45
Sector (Distribution) 2 of 4
Type (Add-on Acquisition) 8 of 23
Country (Ireland) 1 of 1
Year (2016) 4 of 4
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-28 Soukai Drug

Tokyo, Japan

Soukai Drug Co., Ltd. is an online retailer of household goods such as mineral water, nutrition supplements, cosmetics, fabric softeners and baby care products.

Sell ¥8.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 VeriTread

Lakeland, Florida, United States

VeriTread provides an online transportation marketplace that connects construction equipment owners with transportation service providers. VT enhances its products by providing a suite of innovative decision tools, enabling customers to make smarter, more effective arrangement of heavy-haul transportation. VeriTread was founded in 2013 and is based in Lakeland, Florida.

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