CHARLOTTE, N.C. (AP) — Chiquita has combined with Dublin-based Fyffes to become the world’s top banana company.
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The stock-for-stock transaction announced Monday creates a global banana and fresh produce company with $4.6 billion in annual revenues.
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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.
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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.
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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.
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