Chiquita Brands announced plans to buy Irish rival Fyffes in a $565 million deal that will result in the world’s top banana supplier, reports say.
The merger will reduce the number of the world’s banana suppliers from four to three. The new company will be named ChiquitaFyffes, with Chiquita owning about 50.7 percent of the new company, and Fyffes owning the rest, the two companies said in a joint statement.
Together, the firms will operate in the Americas, Asia and Europe.
Full Content: Bloomberg
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