Dublin-based tropical food importer Fyffes Plc has acquired a pineapple plantation and related production assets from Agroindustries Golden West SA in Panama for up to US$8 million (£5.3 million).

Dublin-based tropical food importer Fyffes Plc has acquired a pineapple plantation and related production assets from Agroindustries Golden West SA in Panama for up to US$8 million (£5.3 million).

This operation comprises some 450 hectares and forms part of Fyffes’ strategy to produce some 50 per cent of the pineapples it markets by 2010.

David McCann, chairman of Fyffes, said: “This acquisition is an important step in increasing and securing the supply and quality of our Fyffes Gold pineapples. The further integration of production, shipping and marketing is a positive development for Fyffes and its customers.”

In 2008, Fyffes reported revenues of €758.2 million (£683 million) and pre-tax profits of €15.9 million.