UNIVEG Acquires Stichting Behoud Bananen Sector
News: Belgium-based supplier of fresh produce Univeg has completed the takeover of Suriname-based banana exporter Stichting Behoud Bananen Sector (SBBS), completing the privatisation process of SBBS. Under the terms of the deal, UNIVEG will own a 90% stake in SBBS, while Suriname's agriculture ministry will hold the remaining 10%. SBBS will start operating under the name of Food And Agriculture Industries (FAI). The privatisation process took place under an International Tender Rule process where the EU acted as an observer. The acquisition is in line with UNIVEG's ongoing strategy to secure long-term sourcing requirements to optimally service its retail customers, according to Univeg's CEO Francis Kint.