Chiquita Brands International
The imminent sale of Chiquita Brands International, the US produce giant, shows how different investment horizons can manifest on a company'...
Chiquita Brands International still appears set on its proposed merger with Fyffes – and the US produce giant is, at the moment, right to do...
Chiquita Brands International has rejected a takeover approach from Brazilian juice maker Cutrale Group and investment firm Safra Group in favour of a prior agreement to merge with Ireland's Fyffes. However, the share price reaction suggests investors are betting a higher offer will come in for the US produce group. Katy Askew reports.
First-quarter results continue to come in next week, with Cadbury owner Mondelez International among the companies reporting numbers to the end of March. Elsewhere, US meat giant Tyson Foods will file half-year figures and UK grocer Sainsbury's will report annual numbers.
US produce giant Chiquita Brands International has said it is beginning to see the results of its restructuring but will continue to drive costs down in a bid to be more competitive.
Chiquita Brands International's plans to pursue a new strategic direction with a focus on driving profits in its core businesses garnered a positive reaction from analysts this week.
Fresh produce companies are increasingly looking to develop their value-added offering in order to boost margins and Chiquita Brands International is no exception. Wouter Van Cauwenbergh, senior sales manager for the company's operations in the EMEA region, spoke to just-food about the company's ambition to develop a value-added consumer focused business.
Nine-month profits at Chiquita Brands International have benefited from lower charges, despite the produce group posting lower sales due to poorer banana volumes.
Ireland-based banana group Fyffes has said it is pursuing price hikes in an attempt to offset currency fluctuations, in particular the strengthening of the US dollar against the euro and sterling.
Chiquita Brands International has named Darcilo Santos, an executive from Safra Group, the Brazilian investment firm that took the produce giant private last year, as its new CFO.
The takeover battles for Chiquita Brands International and for Hillshire Brands were among the stories that grabbed your interest in 2014.
Chiquita Brands International has reported steady third-quarter losses despite higher sales in the period.
After seven months, this week saw the uncertainty over Chiquita Brands International's future all but end with the US produce giant agreeing to a US$681m takeover bid from Brazil's Cutrale Group and Safra Group. Elsewhere, Danone announced moves to enter mass-market infant formula in China with an investment in local player Yashili International Holdings.
Chiquita Brands International's board has accepted the US$14.50-a-share takeover offer from Brazilian juice maker Cutrale Group and investment firm Safra Group.
Chiquita Brands International, which had lined up a merger with fellow banana supplier Fyffes, has become the subject of takeover interest from Brazilian firms Cutrale Group and Safra Group. And that interest is developing into a tussle for the future ownership of the US produce giant. just-food provides a digest of the most significant events so far.
Investors in Chiquita Brands International today (24 October) voted against the US produce giant's plan to merge with Ireland-based peer Fyffes.
The most eye-catching story came on Friday with the surprise news Chiquita Brands International shareholders had voted against the US produce group's plan to merge with Fyffes.
Nestle came under investor scrutiny last week after its sales missed analyst expectations - with China a central factor. Elsewhere, we looked at the international strategy of one of China's largest food makers - Bright Food - in the wake of its acquisition of Italian olive oil firm Salov. And we spoke to the president of US investment firm BBX Capital after six acquisitions in the US confectionery sector in a year.
Last week, Chiquita Brands International received an increased takeover bid from Brazilian suitors Cutrale Group and Safra Group - but it was still not enough to win over the US produce giant.
The board of Chiquita Brands International has once again rejected takeover advances from Cutrale Group and Safra Group, insisting their improved offer is still not in the best interests of shareholders.
Fyffes has dismissed the new takeover bid from Cutrale Group and Safra Group for its proposed merger partner Chiquita Brands International.
Cutrale Group, the Brazilian juice maker, and investment firm Safra Group have upped their takeover bid for Chiquita Brands International.
Takeover target Chiquita Brands International has said it expects to book higher third-quarter sales and comparable earnings.
This week Tesco found itself under more scrutiny after it overstated expected profits for the first half of the year by GBP250m. Fonterra and Diamond Foods both reported a slump in annual profits but were optimistic about their prospects. Elsewhere Fyffes, Chiquita and Cutrale and Safra continued to go at each other as the former two announced a revised deal for shareholders if they were to merge. Here is the week in quotes.
Fyffes is attempting to "hoodwink" investors in proposed merger partner Chiquita Brands International, the Brazilian bidders for the US produce giant have claimed this afternoon (26 September).
Chiquita Brands International and Fyffes have revised the terms of their deal to merge, in a bid to fend off the takeover bid for the US produce group from Brazilian bidders Cutrale Group and Safra Group.
M&A was once more a focus on just-food as consolidation of the food sector continued. US natural and organic food group Annie's was snapped up by General Mills.
Chiquita Brands International said today (10 September) it would allow Brazilian bidders Cutrale Group and Safra Group to conduct due diligence on the produce giant.
Cutrale Group and Safra Group today (8 September) insisted Chiquita Brands International has laid down "absurd and unacceptable" conditions for talks to take place over a possible takeover.
Fyffes has allowed prospective merger partner Chiquita Brands International to hold talks with Cutrale Group and Safra Group, the Brazilian firms that have tabled a rival bid for the US produce giant.
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