Subsequent to the completion of the acquisition, Fyffes
was delisted from the ESM of the Irish Stock Exchange and the AIM as of 20 February and has ceased to be a listed company.
produce in the US and Canada is sold under the Fyffes
, Turbana, Sol and Fresh Quest labels.
Chiquita, established in 1870, is among the world's top banana producers, along with Fresh del Monte, Dole and Fyffes
, as per to BananaLink, a nonprofit in the United Kingdom that raises awareness about working conditions in the industry.
Chiquita said it now expects to enter into discussions with Cutrale over a deal which would trigger a termination fee to Fyffes
He added: "We are confident Fyffes
will remain at the forefront of the global produce industry.
, which also sells products under the Sol brand, employs more than 12,000 people worldwide, including 4,000 in the UK and Ireland at locations including Wakefield and Portsmouth.
executive chairman David McCann, who will become chief executive of the new business, said: "Our outstanding employees will benefit from working for a larger, more diverse business which offers opportunities for growth.
7 per cent of the combined business following the merger, which values Fyffes
According to CNN, by the end of 1990s, Chiquita lost its top spot to Dole, which has about 26 percent market share today, while Chiquita has 22 percent and Fyffes
has 7 percent.
The global banana market is controlled by four multinationals, according to the UN: Chiquita , Fresh Del Monte, Hawaii-founded Dole Food Company and Fyffes
2m-was down to its banana operations, Fyffes
said, which had done much better than in 2010, when trading conditions had been difficult because of cold weather in Europe and a global oversupply of bananas.
The group said that trading conditions had "normalised" during the summer months while Fyffes
is pushing up selling prices across all its markets.
Fruit group Fyffes
- which has a distribution centre in Coventry - yesterday posted an eight per cent fall in half-year profits as lower banana prices and soaring fuel costs took their toll.
FRUIT and vegetable distributors Fyffes
will pay pounds 13.
Group, the UK subsidiary of Fyffes
plc, has reported immediate savings upon joining Coolload.