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Short-termism decides Chiquita's future

The imminent sale of Chiquita Brands International, the US produce giant, shows how different investment horizons can manifest on a company'...

Editor's viewpoint: Chiquita right to stand firm

Chiquita Brands International still appears set on its proposed merger with Fyffes – and the US produce giant is, at the moment, right to do...

Katy Askew | 18 Aug 2014

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.

Chris Brook-Carter | 26 Mar 2010

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.

Ben Cooper | 4 Mar 2008

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.

Latest News

Andy Coyne | 19 Sep 2017

Fyffes has avoided outright expulsion from the Ethical Trading Initiative - from which the Ireland-based tropical fruit group is suspended - but it may be only a temporary reprieve.

John Shepherd | 9 May 2017

Irish produce company Fyffes told just-food today (9 May) it will hold talks with the International Union of Food Workers (IUF) aimed at ending the firm's suspension from the Ethical Trading Initiative.

John Shepherd | 9 May 2017

Irish produce company Fyffes has been suspended from its membership of the Ethical Trading Initiative (ETI),  the UK multi-stakeholder partnership aimed at improving conditions in agricultural and manufacturing supply chains.

Katy Askew | 9 Dec 2016

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).

Katy Askew | 16 Sep 2016

Irish produce company Fyffes could raise around EUR40m (US$44.9m) to fund further acquisitions through a share placement. 

Katy Askew | 8 Sep 2016

Fyffes, the Irish produce company, has acquired Canadian mushroom group All Seasons Mushrooms for CAD59.1m.  

John Shepherd | 2 Sep 2016

Fyffes, the Ireland-based fresh produce group, this morning (2 September) reported higher half-year sales and profits.

Katy Askew | 29 Apr 2016

Irish produce group Fyffes raised its full-year outlook this morning (29 April) to reflect the expected contribution of recently acquired business Highline Produce. 

Hannah Abdulla | 1 Apr 2016

Fyffes has announced the acquisition of Canadian mushroom producer Highline Produce in a C$145m deal.

Katy Askew | 26 Feb 2016

Irish produce group Fyffes reported higher comparable earnings as it achieved a "step-up" in profitability in 2015. 

Hannah Abdulla | 23 Oct 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.

Dean Best | 21 Oct 2015

Fyffes, the Ireland-based produce group, has snapped up banana and melon farms in Central America.

Hannah Abdulla | 27 Aug 2015

An improved performance from Fyffes' banana and pineapple businesses has led the produce giant to report a lift in first-half profits and sales.

Hannah Abdulla | 19 Jun 2015

Irish banana group Fyffes has raised its EBITDA target on the back of "strong earnings growth".

Katy Askew | 30 Apr 2015

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.

Hannah Abdulla | 27 Feb 2015

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.

Dean Best | 27 Oct 2014

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.

Hannah Abdulla | 27 Oct 2014

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.

Dean Best | 24 Oct 2014

Investors in Chiquita Brands International today (24 October) voted against the US produce giant's plan to merge with Ireland-based peer Fyffes.

Katy Askew | 24 Oct 2014

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.

Dean Best | 24 Oct 2014

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.

Hannah Abdulla | 23 Oct 2014

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.

Hannah Abdulla | 20 Oct 2014

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.

Katy Askew | 17 Oct 2014

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.

Latest blogs

Dean Best | 11 Dec 2017

Fyffes' suspension from The Ethical Trading Initiative, sparked over disquiet about conditions for the produce giant's workers in Honduras, continues after the UK-based organisation said the fruit and vegetable supplier had not done enough to assuage the concerns.

Dean Best | 17 Feb 2017

A year after union officials alleged Fyffes abused workers on plantations in Central America - and called on the produce giant to be kicked out of the Ethical Trading Initiative forum - the company is set to go before a committee at the UK-based organisation.

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