Fresh Del Monte Produce buys Costa Rica producers

fresh banana Fresh Del Monte Produce Inc., whichmakes fresh-cut fruit and vegetables, said Monday it bought twoCosta Rica fruit companies and an affiliated sales and marketingbusiness for a total of $403 million. The company said the businesses, which include banana producerDesarollo Agroindustrial de Frutales S.A. and gold pineappleprovider Frutas de Exportacion S.A., are collectively known as"Caribana." The company said it expects the deal to add to its earnings in thefirst year. Fresh Del Monte Produce said the acquisition will "substantiallyincrease" its Del Monte-branded banana and Del Monte Gold ExtraSweet pineapple production from Central America. The company added that Caribana's production and packing facilitiesare near its existing Costa Rica operations, which could create a"significant opportunity for operating synergies." Fresh Del Monte Produce also said the deal increased its landholdings in Costa Rica by about 13,000 hectares of farm land.