UK: Morrisons Parts Ways With The Co-Founder Of Its Banana-Ripening Venture In Lincolnshire

Morrisons has parted ways with the fruit supplier that helped it set up its banana ripening warehouse in Lincolnshire two years ago.

The supermarket, which prides itself on being invested in its supply chain, has spent £2.9m to buy out Global Pacific from its Wm Morrison Bananas joint venture, and has brought in the fruit giant Fyffes as its new banana partner.

The Bradford-based supermarket exercised its right to take over the entire joint venture in September, folding the business into its produce supply operations. Directors from Global Pacific left the firm shortly afterwards, according to recent Companies House records.

The venture, which posted revenues of £7.4m for the year to February and turned a small profit, is based in an old Del Monte factory in Boston, Lincolnshire.

To read the rest of the story, please go to: The Telegraph