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.
Recent news of Irish food companies battling the tough conditions - from Origin Enterprises reporting a fall in earnings to job losses at Musgrave - has come as no surprise to anyone who has followed the plight of the country's economy in the last 24 months. What remains less certain, is when and where the sector will begin to recover. Chris Brook Carter reports.
Buoyed by changing consumer values and increasing interest from major corporations, the Fairtrade movement has gathered pace in many European markets over recent years, and sales of Fairtrade foods, such as bananas, coffee and chocolate, have grown rapidly. Ben Cooper reports on a campaigning and, more crucially, a brand-marketing success story.
As fast as e-commerce in the food sector was turned on last year, it is being turned off this summer. High profile casualties like Webvan in America and IngredientsNet.com in Ireland make the headlines but there are many sites where the lights are still on even if no one is there anymore. Countless others are just monuments to what they might have been. Drew Smith takes stock - and forecasts the fallout.
Fyffes has agreed to an all-cash takeover offer from Japanese banana-to-transportation conglomerate Sumitomo Corp. that values the Irish produce group at around EUR751.4m (US$978m).
Irish produce company Fyffes could raise around EUR40m (US$44.9m) to fund further acquisitions through a share placement.
Fyffes, the Irish produce company, has acquired Canadian mushroom group All Seasons Mushrooms for CAD59.1m.
Fyffes, the Ireland-based fresh produce group, this morning (2 September) reported higher half-year sales and profits.
Irish produce group Fyffes raised its full-year outlook this morning (29 April) to reflect the expected contribution of recently acquired business Highline Produce.
Fyffes has announced the acquisition of Canadian mushroom producer Highline Produce in a C$145m deal.
Irish produce group Fyffes reported higher comparable earnings as it achieved a "step-up" in profitability in 2015.
The UK debate over sugar intensified this week with Public Health England calling for a series of measures to reduce consumption. In the US, Campbell Soup Co. and The Schwan Food Co. both made pledges to simplify the ingredient panels in some of their products. In China, PepsiCo announced the opening of the first Quaker Oats plant in the country. Here is the week in quotes.
Fyffes, the Ireland-based produce group, has snapped up banana and melon farms in Central America.
An improved performance from Fyffes' banana and pineapple businesses has led the produce giant to report a lift in first-half profits and sales.
Irish banana group Fyffes has raised its EBITDA target on the back of "strong earnings growth".
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.
M&A remains part of Fyffes' plans for growth, the fresh produce group said today (27 February) as it announced a jump in annual profits.
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.
A busy week in the food industry calendar, with the SIAL exhibition in Paris, ended with a shock announcement: Chiquita Brands International's shareholders rejected the company's plan to merge with Ireland's Fyffes. Elsewhere, we heard third-quarter updates from Unilever, Premier Foods and Mead Johnson.
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.
Cutrale Group and Safra Group have returned to the bargaining table with an increased offer of US$14.50 per share for Chiquita Brands International.
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.
Fyffes, the global produce supplier, is in the spotlight over union claims of worker abuse on plantations in Central America.
- 2017: three major drivers of M&A strategy
- The food market in 2017 - consumer trends and M&A
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Kellogg to slash 250 jobs
- Mondelez sells Vegemite to Bega
- Nestle mum on Mead Johnson takeover talk