business

Sumitomo to buy Europe's top banana giant Fyffes

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© 2016 AFP

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Best of luck, Sumitomo. I've seen the likes of the Japanese titans acquiring European/American businesses before, and the relationships are usually pretty icy, and discussions are usually one way orders coming from Tokyo.

Maybe this story will wind up happier than what I am accustomed to. Ganbatte

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Roughly 30 percent of Fyffes’ revenue stems from Europe, and a further third comes from the UK.

Europe's very own Japan vs Asia syndrome

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This fall and early winter, there was only one thing that was reasonably priced in supermarket that was BananasI hope this acquisition doesn't make a monopoly and prices for Bananas don't go up.

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I hope this acquisition doesn't make a monopoly and prices for Bananas don't go up.

This shouldn't affect Japan.

As any poor geography student will tell you, Fyffes bananas come from Scotland.

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@sense actually they come from a small village in Wales.

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@sense actually they come from a small village in Wales.

Obviously as poor a geography student as me.

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@SenseNotSoCommon, But Scotland is a cold place,not suitable to grow tropical fruit like Banana.

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@SenseNotSoCommon, But Scotland is a cold place,not suitable to grow tropical fruit like Banana.

Obviously not a poor geography student.

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The Japanese domestic market will never see the Fyffes brand in their stores. 4~5 little filipino bananas ¥200, compared to 6 large Fyffe brand for ¥150 in Europe all year round.

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Wait until Sumitomo begin flexing their monopolistic muscles to push up the prices in Europe.....

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