The Board of Directors of Chiquita Brands International and Fyffes Plc have unanimously agreed to join the two companies through a stock for stock transaction. The deal would see Chiquita shareholders owning approximately 50.7% of the new company to be named ChiquitaFyffes and Fyffes shareholders will own approximately 49.3%. The resulting new company will be a global banana and produce company with annual revenue of approximately $4.6 billion and a presence in over 70 countries. Chiquita is based in North Carolina and is a leading fresh food, banana, packaged salad, and snack marketer and distributor. Dublin-based Fyffes is a tropical produce distributor under a variety of brands in Europe, the U.S., Central America and South America. The deal is expected to close by the end of 2014.
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