On Monday, the fruit and vegetable vendor company Chiquita Brands International announced the acquisition of Irish company Fyffes for $ 526 million. Fyffes is the world’s largest distributor of bananas with a combined value of about $ 1,070 million.
Chiquita shareholders will own 50.7% of the new company ChiquitaFyffes, which provides an annual income of $ 4,600 billion and about 32,000 employees in more than 70 countries.
Ed Lonergan, CEO of Chiquita, says it has formed a strategic alliance that combines two complementary companies to bring the best practices in the countries in which they operate. “We will maintain our brands, all of them much appreciated by our clients and the consumers ( … ) The new company will also be able to give customers a more varied mix of products,” he said.
The current chief executive of Fyffes, David McCann, will be the CEO of the new company, and Lonergan will be the president of the company.