Apple says it will buy U.K. retailer Fruit Leather

Apple has said it will invest $1.4 billion in Fruit Leather after acquiring a 30 percent stake in the retailer.

Apple also plans to expand its online presence, which it announced earlier this year as part of its plan to expand into brick and mortar stores.

Apple’s decision to buy Fruit Leather comes as the online retailer, which opened in 2010, has faced growing competition from Amazon, which announced a $1 billion deal earlier this month to buy a controlling stake in Apple’s online retail arm.

Apple, which has been battling to gain traction in the online retail market, announced a series of deals with Amazon earlier this week that included a $15 billion cash investment to expand Apple’s e-commerce business.

Apple said that the acquisition of Fruit Leather would enable it to provide customers with a more customized shopping experience.

It also will give Apple more flexibility to offer products to its existing customers and new ones, the company said in a statement.

“Apple is excited to continue to partner with Fruit Leather, which is already home to some of the most innovative brands in the apparel and footwear industry,” Apple Chief Executive Tim Cook said in the statement.

Apple will also expand its global reach through the purchase of retail locations in the U.S., Mexico and Canada, Apple said.

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