Total Produce (T7O.I, TOT ID)
Total Produce is a specialist B2B fresh produce distributor, operating from 148 facilities across 26 countries with leading market positions in Ireland, the UK, Spain and Northern Europe. It also has operations in North America and India. Since its demerger from Fyffes in 2007, Total Produce's strategy has been to broaden its revenue base via acquisitions. Its recent minority investment in Dole is transformational and represents a coming of age for its regional consolidation model, providing significant runway for future earnings and value growth. The fresh produce sector is quite fragmented - the growth opportunity for Total Produce is to be a consolidator in this fragmented sector.
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