Dutch company Staay Food Group has indirectly bought a stake in a 2,500 hectare Costa Rican pineapple farm, following a 70% takeover of Hispa Fruit B.V.

The takeover arrangement means that Staay will own Hispa's stake in Costa Rican company Agricola Agromonte S.A.

In a release, a Staay spokesperson said the company would work independently of Hispa although the two would still cooperate with fruit cultivation and sourcing.

"The takeover of the pineapple farm in Costa Rica means that Hispa Fruit and the Staay Food Group's other companies have their own cultivation projects in the Netherlands, Spain, Costa Rica, Argentina, Peru, Israel and Egypt," the release said.

"As a result of this expansion, the overall turnover of the Staay Food Group will come to in excess of 475 million euros (US$673.26 million)."

Photo: Agricola Agromonte S.A.

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