Subscribe to Breaking News emails

You have successfully subscribed to the Breaking News email.

Subscribe today to be the first to to know about breaking news and special reports.

Chiquita Merges with Fyffes to Be Top Banana

Yes, we have bananas. Merger of Chiquita with Fyffes will create world's largest producer of the popular fruit.
Yes, we have bananas. Merger of Chiquita with Fyffes will create world's largest producer of the popular fruit.CARL COURT / AFP - Getty Images

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Chiquita has combined with Dublin-based Fyffes to become the world's top banana company.

The stock-for-stock transaction announced Monday creates a global banana and fresh produce company with $4.6 billion in annual revenues.

The new company, ChiquitaFyffes, will have an operating presence in more than 70 countries and a workforce of approximately 32,000 people. It will become the largest company in the global banana market with sales of more than 160 million boxes annually.

Yes, we have bananas. Merger of Chiquita with Fyffes will create world's largest producer of the popular fruit.
Yes, we have bananas. Merger of Chiquita with Fyffes will create world's largest producer of the popular fruit.CARL COURT / AFP - Getty Images

Ed Lonergan, Chiquita's chief executive officer, says the deal creates a strategic partnership that combines two complementary companies that will work to bring best practices in countries where they operate.

Chiquita Brands International is based in Charlotte, North Carolina, and has a big presence in the United States while Fyffes has a major presence in Europe.

-- The Associated Press

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
MORE FROM news