PETALING JAYA: XL Holdings Bhd, an edible bird nest and arowana breeder, is buying a pineapple company for RM40mil cash.

       “The proposed acquisition represents an opportunity for the group to pursue its diversification strategy with a profitable fruit and vegetable plantation,” the company said in a bourse filing yesterday.

       XL Holdings said it had entered into a deal with Lee Kok Soon and Edmund Chan Seng Kee to buy their entire equity stake in Ergobumi Sdn Bhd.

       Ergobumi is principally involved in planting, growing, cultivating, producing and raising pineapples, as well as buying, selling, exporting and distributing them.