Are you a Fyffes man, or do you prefer a nice tasty Chiquita? Well, it soon won’t matter as the two companies are getting set to merge into the world’s largest banana company.
Sadly, our suggestions of “Fyffquitas” and “Chiqyffes” must have missed the bosses at the new firm, as a
press release from Chiquita has revealed that the new company will be called ChiquitaFyffes. Fyffquitas sounds much better in our opinion...
On the business side of things, Chiquita shareholders will be receiving approximately 50.7% of ChiquitaFyffes, while Fyffes shareholders will get the remaining 49.3% of the new company.
ChiquitaFyffes will generate roughly $4.6bn (€3.31bn) in revenues through the sales of 160 million banana boxes a year, along with other fresh fruits.
"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.
"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."
Pic via Dawn Huczek
