Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News | Other Stuff

 

Chiquita Acquires Fyffes to become Biggest Banana Retailer

The Chiquita company has acquires Fyffes and become the biggest banana retailer in the world. The two companies have a lot of value in tandem in monetary terms.

Mar 10 2014, 1:03pm CDT | by

1 Updates
Chiquita Acquires Fyffes to become Biggest Banana Retailer
 
 

YouTube Videos Comments

Full Story

Chiquita Acquires Fyffes to become Biggest Banana Retailer

Chiquita and Fyffes have recognized the urge to merge and combined their resources. Today they are one company although it will take them some time to fully integrate forces and functions. The board of directors of both firms has started holding parleys. 

The merger makes the new company the world’s largest banana exporter. As for the stocks and shares of both companies, they will undergo a re-exchange and reshuffling. Chiquita was a leading seller of fresh food products. It was especially known as an exporter of high quality, large, fresh, blemish-free bananas. 

Each banana had a blue label on it that was the distinguishing mark that differentiated it from other brands. Besides its main base which was in the United States, it was sold in more than 70 countries around the world. 

"This is a milestone transaction for Chiquita and Fyffes that brings together the best of both companies which, we believe, will create significant value for our shareholders and offer immediate benefits for customers and consumers worldwide," said Ed Lonergan, Chiquita's Chief Executive Officer. 

Fyffes meanwhile is situated in Dublin, Ireland. This company had more influence in Europe, Asia, the US, Central America and South America. With this transaction, the newly-formed hybrid company will be called ChiquitaFyffes. And it will have over 32,000 employees spread throughout the global village. 

The cream of the crop has melded with the best of the best in this social and economic exchange of sorts. A lot of hope is being held for the future prospects of the novel organization. It seems size does matter and now the world will get even greater quality and quantity of bananas. 

"This deal will be transformative and offer exciting opportunities for the new business. We are looking forward to working with the Chiquita team to build a combined company which is well positioned to succeed in our highly competitive marketplace and which will create significant value for our shareholders," said David McCann, Fyffes Executive Chairman.

The synergetic value of the newly combined companies will reach $40 million within the next half decade or so. The behemoth setup will export 160 million crates of fresh bananas on a yearly basis. 

"Our outstanding employees will benefit from working for a larger, more diverse business which offers opportunities for growth.  We believe we will be able to use our joint expertise, complementary assets and geographic coverage to develop a business that can run smoothly and efficiently to better partner with our customers and suppliers," added David.

 

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

Comments

blog comments powered by Disqus

Latest stories

Tinder App Review
Tinder App Review
Tinder is a great mobile app for those who love making new friends. It's a fun way to make interesting people your friends. Just log in, swipe right to like or left to pass, and if the person likes you back, “It's a Match” for you. Making friends is a lot fun now if you are on Tinder.
 
 
SketchBook Pro App Review
SketchBook Pro App Review
Sketchbook Pro, as the name suggests, is a professional-grade design and illustration app. The app is appraised to be one of the best mobile apps for design, sketching, painting and illustration. This app is predominantly used by on-the-go artists, designers and illustrators. This app is also used by teens who are interested in arts and by children to practice drawing and painting in a way that is much more interactive than regular painting book activities. So on the whole, SketchBook Pro is a very productive mobile application that targets a heterogeneous audience.
 
 
Trolls vs Vikings Game Review
Trolls vs Vikings Game Review
The Trolls and Zombie has become a very popular game recently as nearly half a million people have downloaded this game since its launch. People of all ages love to play this game as it has got something for everybody.
 
 
Bounden Game Review
Bounden Game Review
The Bounden is a fantastic game app which features different styles of dances in a very unique way. It is an app which is one of its kinds and people wouldn’t have experienced anything like this before. It has a good following and the app always had an increased curve of popularity since it was launched.
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.