Irish fruit distributor Fyffes has agreed to be bought by Japan's Sumitomo in a €751m deal.
Fyffes produces, ships, ripens and distributes bananas, melons, pineapples and mushrooms. The firm, which has its headquarters in Dublin, employs more than 17,000 people worldwide and has an annual turnover of €1.2bn.
Sumitomo supplies about one in three bananas sold in Japan after first entering the market in the 1960s.
David McCann, chairman of Fyffes, says: "We believe this transaction represents a compelling proposition for our shareholders and crystallises the substantial value created in recent years through the various strategic developments and the strong operating performance."
Sumitomo said it was drawn to Fyffes' "strong position" in complementary markets and promised to invest further in the business. "We look forward to working with the Fyffes team to further develop the business over the longer-term and to expanding into new markets," said Hirohiko Imura, managing executive officer.